Societe Generale to Increase Share Capital by 4.9%
12 June 2019 - 04:55PM
Dow Jones News
By Nathan Allen
Societe Generale SA France (GLE.FR) said Wednesday that it will
increase its share capital by 4.9% after shareholders owning a
majority of its shares chose to receive the 2018 dividend in new
shares.
The French lender said it will issue 39.8 million shares after
shareholders controlling just over 50% of its capital opted to
receive new shares rather than cash.
Issuing the new shares will reduce Societe Generale's CET1
ratio--a measure of capital strength--by 24 basis points, the bank
said.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
June 12, 2019 02:40 ET (06:40 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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