The offering is brokered by SSIF Broker.
If it raises the planned RON70 million, the insurer’s share capital will increase from RON192.7 million to RON262.7 million. The offering may be subscribed only by the company’s existing shareholders and unsubscribed shares will be annulled.
The capital hike is the first stage of a larger capital hike, of RON490 million, a plan special administrator KPMG Advisory approved late June.
Astra Asigurari is controlled by The Nova Group Investments Romania SA – 72.68% and Epsilon Estate Provider SRL- 26.04%, while several other individual and corporate shareholders own 1.3%. The Nova Group Investments Romania and Epsilon Estate Provider are owned by businessman Dan Adamescu.
Astra is the leading insurer in Romania with underwritings of more than RON1 billion in 2012 and more than four million clients.
Astra is listed on the Bucharest Stock Exchange but has been suspended from trading since February.