Slovenian lender DBS to carry out share swap on Jan 3

DBS intends to replace its existing shares carrying the SZBR ticker with new shares with the DBSR ticker on January 3, 2023, it said in a filing with the Ljubljana Stock Exchange.

The replacement will be done automatically and each owner of SZBR shares on record as of December 30, 2022, will receive the same amount of DBSR shares. The ownership in DBS will not change due to the transaction, while old SZBR shares will be cancelled, the lender noted.

In May 2021, DBS shareholders decided to remove the restrictions that required to have the prior consent of its management board for trading equity stakes of below 5% and the consent of the supervisory board for interests above this threshold. The bank decided to carry out the share swap in the interest of greater transparency as the restrictions on trading of SZBR shares are still entered in the central register of securities, it said.