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Dec 28, 2017 12:57 EEST
December 28 (SeeNews) - Macedonia's Ohridska Banka [MSE:OHB] said its majority owner, France's Societe Generale, will increase the company's share capital by 206.1 million denars ($4.0 million/3.3 million euro).
The new share issue aims to help Ohridska Banka cover the minimum capital requirements, the Macedonian lender said in a bourse filing.
Societe Generale will subscribe for 77,764 Ohridska Banka shares, which will carry a nominal value of 2,650 denars each, at a price of 5,536 denars apiece, according to the filing.
In October, Ohridska Banka signed an agreement for a ten-year 15 million euro ($17.66 million) subordinated loan from Societe Generale, in order to make sure it adheres to the Basel capital requirements.
Ohridska Banka is part of the blue-chip index MBI-10 of the Macedonian Stock Exchange. Societe Generale owns a 70.02% stake in Ohridska Banka, with the remaining 29.98% owned by minority shareholders.
(1 euro = 61.46 denars)
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