June 14 (SeeNews) - Bosnia's Pavlovic International Bank has invited investors to subscribe for a capital hike of up to 7 million marka ($4.0/3.6 million euro) through the issue of common shares, local media reported.
Pavlovic Banka will issue 7 million common shares with a nominal value of 1 marka apiece, news portal indikator.ba reported on Thursday.
The shares will first be offered to shareholders with pre-emptive rights at a price of 1 marka per share from June 28 until July 12, after which unsubscribed shares will be offered to investors on the bourse.
The bank's regulatory capital amounted to 13 million marka at the end of 2018 and was below the prescribed minimum of 15 million marka. The regulatory capital rate stood at 10.67%, below the prescribed minimum of 12%.
Pavlovic Banka is based in the Serb Republic, one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Federation.
(1 euro = 1.95583 marka)