UPDATE 1-Alpha Bank share sale oversubscribed, priced at 1.0 euro/share

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ATHENS, June 30 (Reuters) - Alpha Bank’s share placement with institutional investors was oversubscribed about two times and was priced at 1.0 euro per share, sources close to the transaction told Reuters on Wednesday.

Alpha Bank, one of Greece’s four largest lenders, launched a combined share offering on Monday to raise 800 million euros ($948.80 million).

A public offering in Greece and an international placement with institutional investors via bookbuilding ran in parallel.

Alpha Bank had no comment.

The bank raised cash in anticipation of funds Greece will receive from the EU’s Recovery and Resilience Fund. Alpha has said the fundraising will fuel growth and boost profitability.

Alpha Bank’s CEO Vassilis Psaltis told shareholders on June 15 that the capital increase would help the bank to achieve double-digit earnings growth rates and its ability to pay out dividends.

Goldman Sachs and JPMorgan acted as joint global coordinators and joint bookrunners, with Citigroup the senior joint bookrunner and Barclays and Axia Ventures joint bookrunners.

$1 = 0.8432 euros Reporting by George Georgiopoulos. Editing by Jane Merriman