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Commerzbank to Seek Mandate from Stakeholder to Double the Capital

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Commerzbank is planning to double the capital and would seek approval from shareholders in order to strenghthen capital base in fragile interbank credit environment in euro zone
It is planning to issue 50 pct of new capital in form of share while remaining amount would come from convertible notes
Commerzbank has 5.6 billion shares outstanding
The new shares could also be used to swap the non-voting capital contribution

It will also ask shareholder's approval

Published: 2012-04-11 17:10:00 UTC+00

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May 23 at 1:01 UTC