![Attica Bank confirms non-binding offers for prospective 240-mln€ share cap increase, without further details](https://www.ot.gr/wp-content/uploads/2021/09/attica_bank_3.jpg)
Non-systemic Attica Bank on Wednesday afternoon confirmed that it has received non-binding offers for investors’ participation in a planned 240-million-euro share capital increase.
An announcement issued by the bank said board members received confidential expressions of interests, adding: “…upon the conclusion of the relevant procedures, reputable investors have sent confidential letters of interest, on a non – binding offer basis, a fact that confirms the support to the business plan of the Bank and its implementation by the Management.”
No information was given on the number of offers submitted, nor the names of the investors.
Attica Bank said it will now proceed with the evaluation and further clarification of the non-binding offers and their components, in cooperation with its consultants, in order to form the forthcoming share capital increase, which will be approved by the relevant supervisory authorities.
According to banking sources in the Greek capital on Wednesday, if the share capital increase proceeds as planned, the most probable scenario is for Attica Bank to emerge as a multi-shareholder financial institution.
The same sources added, however, that even in a “worst-case scenario” of no agreement or serious interest by investment funds, a “Plan B” prospect holds that the Hellenic Financial Stability Fund (HFSF) will immediately provide the necessary investment to ensure the bank’s continued sufficient capital needs. If the latter scenario materializes then another attempt at privatization of the non-systemic lender will be attempted.
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