Denmark's third-largest bank, Sydbank, said on Tuesday its placement of 6.75 million new shares raised 877.5 million Danish crowns ($172.5 million).

The stock was priced at 130 crowns per share and sold to domestic and international institutional investors, Sydbank said in a statement.

The offering was at a discount of 5.3 percent to Monday's closing price of 137.25 crowns.

Sydbank shares closed down 1.6 percent on Tuesday at 135 crowns shortly before the pricing was announced.

Danske Markets, a division of Danske Bank, and J.P. Morgan Securities Ltd were the joint lead managers and bookrunners for the offering.

Investment