Banca Transilvania, the only Romanian privately held top player,raised almost 113m RON (26m euros) from shareholders by sellingstock, with this as the first issue carried out since the onset ofthe crisis in Romania, in late 2008.
The raised sum accounts for almost 94% in the planned value of theissue, of 120m RON. The unsubscribed shares will be divided amongemployees, who will receive 6 million shares as part of the loyaltyprogramme, and the rest of 1.3 million shares will be proposed toless than 100 selected investors, at a price of 1.1RON/share.
Shareholders could subscribe stock at the price of 1 RON/share, ata discount from the BSE trading price. At the close of Fridaysession, BT stock traded at 1.23 RON.
"I am satisfied we found such support from shareholders. 94% is asign of confidence, of support, a sign to go ahead and develop thisbank," commented Robert Rekkers, general manager of BancaTransilvania.
The share issue is part of a broader capital increase operation, by391m RON (91m euros), that shareholders decided in spring.
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