Banca Transilvania (Transilvania Bank - TLV), the biggestRomanian-controlled lender, finalised a primary offering at the endof January, targeted at employees and a limited number of privateinvestors, whereby it raised 8.05 million lei (1.89 millioneuros).
The shares sold had remained unsubscribed following the capitalincrease in November 2010, whereby the bank raised around 100.6million lei from shareholders and from stock exchange investors whobought subscription rights in the summer.
So, in the past year alone, Banca Transilvania managed to raise107.1 million lei (25 million euros) on the Stock Exchange, on topof the 422 million lei raised between 2005 and 2008 through cashcapital increases.
After registration of the subscribed shares, the share capital ofBanca Transilvania will climb to 1.478 billion lei (347 millioneuros), with 543 million lei being money attracted fromshareholders, employees and capital market investors in the pastsix years.
Money attracted from the Stock Exchange is the cheapest means offinancing for Banca Transilvania, because it is a long-termresource, for which it does not pay interest, as in the case ofcustomers' deposits.
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