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Romania's Banca Transilvania To Raise Capital by 26.64 Mln Lei (6.3 Mln Euro)

Dec 2, 2009, 7:48:09 PMArticle by Sabina Kotova
share
BUCHAREST (Romania), December 2 (SeeNews) – Romania's Banca Transilvania will raise its capital by 26.64 million lei ($9.4 million/6.3 million euro) to 1.09 billion lei by issuing new shares to its bond holders, the bank said on Wednesday.

Romania's Banca Transilvania To Raise Capital by 26.64 Mln Lei (6.3 Mln Euro)

In order to allocate 41.82 million shares to bond holders who have requested the conversion of their bank bonds into shares, Banca Transilvania will issue 26.64 million share with a par value of one lei each, it said in a statement.

The difference of 15.18 million shares will be covered by shares repurchased earlier by the bank. The conversion price is 1.5049 lei per share.

The International Finance Corporation will become one of the largest shareholders in Banca Transilvania with a 3.62% stake, following the conversion of bonds worth $20 million (13.4 million euro) into shares, the bank said last month. The European Bank for Reconstruction and Development is the largest shareholder with a 15% stake. Different companies and individuals own the remainder.

Banca Transilvania is part of the blue-chip BET index of the Bucharest Stock Exchange. Its shares closed up 0.88% at 2.28 lei on Wednesday.

(1 euro = 4.2464 Romanian lei)

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