Banca Transilvania shareholders have subscribed 93 percent of the bank's share capital increase, the bank has announced.  Banca Transilvania has increased its share capital by EUR 26.3 million.

The bank has issued 391 million new shares, out of which 7 million were not subscribed. It has decided to use 6 million shares for the employee retention program. The remainder of the shares will be offered to investors at the price of RON 1.1 per share.

Banca Transilvania has 1.3 billion shares which are trading on the Bucharest Stock Exchange. The last trading price on Friday was of RON 1.23 per share. The bank's capitalization on the BSE was of EUR 390 million.

The bank is owned by the European Bank for Reconstruction and Development (EBRD), with 15 percent of the shares, Bank of Cyprus with 9.5 percent, the SIFs investment funds,  private investor Horia Ciorcila with 5 percent, the International Financial Corporation with 3 percent.

editor@romania-insider.com