September 13 (SeeNews) - Bosnia's MF Banka [BANJ:IEFB] plans to raise its capital by 4.3 million marka ($2.4 million/2.2 million euro) by issuing 43,000 new shares of 100 marka in par value each, it said.
Of the total number of shares, 38,025 units will be issued for microcredit company MKD Mikrofin Banjaluka, whereas 4,975 units will be issued for the Dutch development bank FMO, MF Banka said in a filing to the Banja Luka Stock Exchange on Thursday.
MKD Mikrofin owns 78.34% shares and FMO owns a stake of 11.57% stake in MF Banka.
The selling price of one share of the issue is 128.5 marka, as the capital hike will be conducted without pre-emption rights.
MF Banka's base capital amounts to 46.48 million kuna. If the capital hike is successful the capital will grow to 51.14 million marka.
In order for the capital hike to be successful, at least 70% of the total number of issued shares have to be subscribed for.
The decision for the planned capital hike will be put to the vote at a September 30 shareholders' meeting.
(1 euro = 195583 marka)