March 14 (SeeNews) - Montenegrin lender Prva Banka [MNE:NKBA] plans to raise up to 2 million euro ($2.2 million) via a new share issue, the country's Capital Market Authority (CMA) said.
As part of the issue, Prva Banka plans to offer 15,648 new regular shares with a nominal value of 127.82 euro each, CMA said in a statement earlier this week.
The subscription will take place in two rounds, with existing shareholders having the exclusive right to participate in the first round. If they subscribe the issue in full, there will be no second round.
The issue will have a 65% success threshold. The new shares will be listed on the Montenegro Stock Exchange.
Prva Banka's current share capital of 55.4 million euro is divided into 410,168 regular shares and 23,471 noncumulative preferred shares of 127.82 euro each.
Local businessman Aco Djukanovic is the single largest shareholder in Prva Banka with a 41.5% stake. State-owned power producer EPCG follows with a stake of 19.8%, while the remainder belongs to smaller shareholders. At the same time, EPCG owns all Prva Banka preferred stock.
The regular shares last traded on the Montenegrin bourse on October 20, closing flat at 20.5 euro.
In the prospectus, Prva Banka said its net profit rose to 76,000 euro last year from 62,000 euro in 2022, as interest income increased to 11.4 million euro from 9.5 million euro in the period under review.
In December, Montenegro's central bank said that an unnamed Serbian candidate withdrew from a possible deal to acquire a stake of up to 50% in Prva Banka.
In July 2023, local media reported that Serbia's state-run Banka Postanska Stedionica held talks to acquire a majority stake in Prva Banka Crne Gore.
($ = 0.914 euro)