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Romania's BRK Financial Group to raise stake in Romlogic Technology via debt/equity swap

Author Mario Tanev
Romania's BRK Financial Group to raise stake in Romlogic Technology via debt/equity swap Author: Ken Teegardin. Licence: Creative Commons.

BUCHAREST (Romania), January 21 (SeeNews) - Romanian lender BRK Financial Group [BSE:BRK] said on Tuesday that it will increase its stake in local software company Romlogic Technology to 84.838% via a debt for equity swap.

Romlogic Technology shareholders approved on Monday a proposal to convert the company's 5.41 million lei ($1.3 million/1.1 million euro) debt owed to BRK Financial Group into 540,953 shares with a nominal value of 10 lei apiece, BRK Financial Group said in a bourse filing.

Following the conversion, BRK Financial Group will hold 605,963 shares in Romlogic Technology.

As at 14:50 CET on Tuesday, BRK Financial Group shares traded 0.23% higher at 0.0876 lei on the Bucharest Stock Exchange.

(1 euro = 4.78 lei)

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