Bosnia’s UniCredit Bank raises capital by 7.7 mln euro

UniCredit Bank AD Banja Luka will issue 21,429 new shares at a price of 700 marka apiece aimed for the institutional investor UniCredit Bank Austria, the Bosnian bank said in a filing with the Banja Luka Stock Exchange (BLSE).

After the capital hike, UniCredit Bank Austria will own 97.85% of its Bosnian unit, it said.

The shareholders of UniCredit Bank AD Banja Luka will vote on the proposal on November 26.

UniCredit Bank AD Banja Luka operates in the Serb Republic, one of the two autonomous entities that make up Bosnia and Herzegovina. The other one is the Muslim-Croat Federation.

(1 euro=1.95583 Bosnian marka)