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Co-operative News - the Global News Hub.In a bid to raise capital, the Co-operative Bank is to issue new shares, which could see its former parent organisation’s stake reduce to 20%. The Bank’s chair has also signalled his intention to step down.

The Co-operative Group, which gave up full ownership of the Bank last year, still retains a 30% share of the plc. The Bank aims to raise £400m through the issue of 200 million ordinary shares at £2 each. The Group’s stake could be reduced to 20%, although the official figure will not be known until the transaction is approved by shareholders at the general meeting in late May....

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