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Piraeus Bank: AGM approved a 20-to-1 reverse split

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Piraeus AGM approved yesterday a 20-to-1 reverse stock split which effectively reduces the nominal value of each common share from Eur0.30 to Eur6.0 with reduction of the Bank’s number of shares from 8,733,183,280 to 436,659,164 common shares.

 

The rationale of the reverse split is to facilitate stock trading in various international electronic platforms and also facilitate the marketability of the Bank’s stock to a broader range of investors, whose internal policies may prohibit them from investing in lower priced stocks.

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