logo
Share SHARE
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

Editors Pick
British lender Lloyds Banking Group Plc. Friday reported higher profit in its first half, benefited by increased net interest income and margin as well as lower impairment. Looking ahead, the company lifted its net interest margin forecast. Amgen reported an increase in second-quarter profit, driven by sales of arthritis drug Enbrel and osteoporosis treatments Xgeva and Prolia, and improved margins. Both earnings and sales topped Wall Street estimates. Electronic Arts Inc. (EA) on Thursday reported an increase in profit for the first quarter, reflecting continued strong digital revenues, with both earnings and revenues topping Wall Street estimates. However, shares of the company fell over 4 percent, after having detailed a weak outlook. Redwood...
comments powered by Disqus
Follow RTT