 In 2017 the bank raised another €1.5 billion through a rights issue for shareholders as well as the direct sale of shares to Chinese conglomerate Fosun International.Immediately after that capital raising, Millennium BCP paid off the remaining €700 million in CoCo bonds, thereby regaining its autonomy from the state and ending any possibility of nationalization through a forced conversion of the bonds.The remaining funds from the rights issue will be used to strengthen the bank's capital ratios.