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Bloomberg
Banco Popular Espanol SA raised €2.5bn from a sale of new shares, as the Spanish lender seeks to draw a line under losses stemming from the country’s property crash.
Popular sold 2 billion new shares in the capital increase, which attracted total investor demand of €3.4 bn, or 136% of the amount raised, the bank said.
Popular is seeking to clean up soured property assets that built up during the country’s real-estate crash, which forced the government to seek a European bailout to shore up the banking system in 2012.