Commerzbank (CRZBY.PK) sets its capital raise, offering 556M shares at 4.5 euros each, a 55%...

|About: Commerzbank AG ADR (CRZBY)|By:, SA News Editor

Commerzbank (CRZBY.PK) sets its capital raise, offering 556M shares at 4.5 euros each, a 55% discount to Monday's close. Excluding the value of subscription rights - set at 2.65 euros/share - it's inline with expectations for a 38% discount. With the money, the bank will repay Germany and Allianz, saving about 200M euros/year. Stock's off 1.8% in Frankfurt.