You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Slovenia becomes 100% owner of Abanka Vipa

Slovenia becomes 100% owner of Abanka Vipa

LJUBLJANA (Slovenia), December 30 (SeeNews) – Slovenia’s Abanka Vipa [LJE:ABKS] said on Monday the state has become the owner of 100% of its shares following emergency measures taken to strengthen the stability of the banking system.

Earlier this month the Slovenian central bank decided that all qualified liabilities of Abanka Vipa should cease in full, effective December 18, including Abanka’s share capital and as a result the bank's ordinary shares were deleted from the central register of book-entry securities, Abanka Vipa said in a bourse filing.

At the same time, 15,000,000 new Abanka shares were issued, which were bought by the government, it said.

Prior to the change, insurer Zavarovalnica Triglav [LJE:ZVTG], diversified holding Sava, Gorenjska Banka, local fund Triglav vzajemni skladi-Triglav delniski and gaming and hotel chain HIT owned 25.6%, 23.8%, 14.7%, 7.3% and 6.1%, respectively, of Abanka’s equity capital.

In order to raise the capital needed to achieve the long-term capital adequacy of Abanka Vipa, the central bank imposed an extraordinary measure on the bank to increase its capital through the payment of new shares by cash contribution by the state in the amount of 348 million euro ($477 million), Abanka said earlier this month.

Following these measures, the bank's share capital will total 150 million euro, it said at the time.

($=0.7239 euro)

Compare