May 25 (SeeNews) - North Macedonian non-life insurer Halk Osiguruvanje, owned by Halk Banka, the local arm of Turkish state-owned lender Halk Bankasi [IST:HALKB], has raised 4 million euro ($4.3 million) in a capital increase via a new share issue, the country's Central Securities Depository said on Thursday.
The insurer issued 400,000 new ordinary shares at a price of 10 euro each, equal to their nominal value, the Central Securities Depository said in a notice.
Following the transaction, Halk Osiguruvanje's share capital totals 19.5 million euro, split into 1.95 million shares.
The newly issued shares were reserved for Halk Banka, the country's Securities and Exchange Commission (SEC) said in April when approving the capital hike plan.
The insurance company was established in 2007. It has been fully owned by Halk Banka since January, 2019.
($ = 0.932816 euro)
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