Amsterdam-listed banking group SNS REAAL announced the completion on Thursday of a EUR 135 mln equity issue through an accelerated bookbuild offering.
Amsterdam-listed banking group SNS REAAL announced the completion on Thursday of a EUR 135 mln equity issue through an accelerated bookbuild offering.
In total, the issue comprised 26 million new ordinary shares at a price of EUR 5.15 per share.
SNS REAAL said it intends to use the proceeds of the equity issue to partly finance the repurchase of EUR 185 mln of the total of EUR 750 mln of core tier 1 securities obtained from the Dutch State and EUR 65 mln of the total of EUR 500 mln of core tier 1 securities obtained from the foundation, Stichting Beheer SNS REAAL.
Earlier on Thursday the banking group revealed that Marius Menkveld is stepping down as CEO of SNS Property Finance on 1 October. He is leaving, the bank said, in light of the change of strategy within the group.
