Romanian lender Banca Transilvania has postponed its plan to sell shares on the Vienna Stock Exchange until next year because of legal problems with shareholder SIF Banat- Crisana, Chief Executive Officer Robert C. Rekkers said, quoted by Bloomberg. Banca Transilvania's shares are traded on the Bucharest Stock Exchange (symbol TLV), with a current market capitalization of EUR 390 million.

The bank is focusing on a share-capital increase approved by its shareholders on April 30 and decided to delay the share sale originally planned for this year, Rekkers said in a Bloomberg interview.

Banca Transilvania, whose largest shareholder is the European Bank for Reconstruction and Development with 14.6 percent, plans to increase its share capital by EUR 91.5 million and will probably announce investor subscriptions by the end of the week, Rekkers said.

The capital increase has been challenged in court by Romanian investment fund SIF Banat-Crisana, which is also one of the reasons why the bank postponed the Vienna share sale, according to Rekkers. SIF Banat-Crisana is a shareholder.

editor@romania-insider.com