Banca Transilvania (Transilvania Bank - TLV), the biggest Romanian-controlled lender, finalised a primary offering at the end of January, targeted at employees and a limited number of private investors, whereby it raised 8.05 million lei (1.89 million euros).
The shares sold had remained unsubscribed following the capital increase in November 2010, whereby the bank raised around 100.6 million lei from shareholders and from stock exchange investors who bought subscription rights in the summer.
So, in the past year alone, Banca Transilvania managed to raise 107.1 million lei (25 million euros) on the Stock Exchange, on top of the 422 million lei raised between 2005 and 2008 through cash capital increases.
After registration of the subscribed shares, the share capital of Banca Transilvania will climb to 1.478 billion lei (347 million euros), with 543 million lei being money attracted from shareholders, employees and capital market investors in the past six years.
Money attracted from the Stock Exchange is the cheapest means of financing for Banca Transilvania, because it is a long-term resource, for which it does not pay interest, as in the case of customers' deposits.
Banca Transilvania (Transilvania Bank - TLV), the biggest Romanian-controlled lender, finalised a primary offering at the end of January, targeted at employees and a limited number of private investors, whereby it raised 8.05 million lei (1.89 million euros).
The shares sold had remained unsubscribed following the capital increase in November 2010, whereby the bank raised around 100.6 million lei from shareholders and from stock exchange investors who bought subscription rights in the summer.
So, in the past year alone, Banca Transilvania managed to raise 107.1 million lei (25 million euros) on the Stock Exchange, on top of the 422 million lei raised
