ATHENS, Aug 24 (Reuters) - Greece's securities regulator on Monday approved pharmaceuticals firm Alapis' planned 451 million euro ($646 million) rights issue, the second largest in the country so far this year.
Alapis will offer new shares at a deeply discounted 0.46 euros to raise funds to repay part of its existing short-term debt, finance expected working capital requirements and pursue targeted acquisitions.
Underwriters are ABN Amro, Bank of America-Merrill Lynch, BNP Paribas, Deutsche Bank and Jefferies.
Alapis has said private equity fund Lamda Partners will subscribe and invest about 90.2 million euros, exercising 196 million rights, about 20 percent of the new shares. (Reporting by George Georgiopoulos; Editing by Jon Loades-Carter)