Attica Bank: The new shareholding structure is being formed – Changes in the management are following


Tonight it is expected to be clarified how the shareholding structure of Attica Bank will be formed after the completion of the share capital increase. The Board of Directors meets in the afternoon to decide on the distribution of shares corresponding to non-exercised rights of the HFSF and small shareholders.

The decision is rather formal, as the unallocated shares has been pledged by Ellington. If the number is large, some will get it ΤΜΕΔΕ, increasing its percentage from 14.7% to 17%.

The HFSF has announced that it will cover up to 64% of AMK (from the 68.2% allocated to it based on its current participation). The final percentage is estimated to be lower by 2-3 percentage points, depending on the interest shown by small shareholders and institutional portfolios.

After the completion of the AMK procedures and in view of a second or even a third that will follow in combination with the issuance of warrants, they are expected changes at the top of the management pyramid the bank’s.  

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