FONT-SIZE Plus   Neg

SoFFin Converts Silent Participations Of EUR 230.8 Mln Into Commerzbank Shares

erman Financial Market Stabilisation Fund or SoFFin said that it converted silent participations of approximately EUR 230.8 million into some 120 million Commerzbank (CRZBY.PK) shares. In connection with the measure to improve its capital structure announced on February 23, 2012, the execution of the capital increase by means of a contribution in kind of 360.51 million shares was registered in the commercial register today.

The German Financial Market Stabilisation Fund also said that it has
converted a portion of its silent participations into shares in order to
maintain its equity interest ratio in Commerzbank (25% plus one share).

This will result in a portion of the silent participation with a nominal value of about EUR 230.8 million being converted into 120.17 million shares, using the conditional capital authorised in the 2011 Annual General Meeting of shareholders. SoFFin's remaining silent participation in Commerzbank therefore is reduced to approximately EUR 1.71 billion.

With the execution of both capital measures, the total number of Commerzbank shares has increased to 5.59 billion shares. The new shares will be included in stock exchange trading for the first time on March 8, 2012.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
comScore (SCOR), a global media measurement and analytics company, reported U.S. desktop retail e-commerce spending for the first 27 days of the November-December 2015 holiday season. For the holiday season-to-date, $23.4 billion has been spent online, marking a 5-percent increase versus the corresponding... Cricket Wireless Monday said it is adding to the Cyber Monday excitement by offering new and existing customers 50 percent off Samsung Galaxy S4, S5, and S6 today through December 3 with activation on a smartphone plan. The offer can be combined with the Black Friday offer where customers switching... Global watch maker, Swatch Group will be launching "pay by the wrist" watches early next year in partnership with Visa Inc.
comments powered by Disqus
Follow RTT