Banca Transilvania will buy back up to 2 million shares between September 30 and November 1, at a minimum price equal to the market price in the day of the purchase, but not more than 2 lei (EUR0.4624) a share, the statement noted.
Thursday, Banca Transilvania closed up 1.03% at RON0.935 a share. At this price, the value of the 2 million shares reaches RON1.87 million (approximately EUR433,000).
Banca Transilvania has a share capital of RON1.477 billion, divided into 1.477 billion shares with a face value of RON1.
The European Bank for Reconstruction and Development holds a 14.61% stake in the lender, Bank of Cyprus holds 9.7% and board president Horia Ciorcila holds 5%, while the rest of the shares are traded on the Bucharest Stock Exchange. (EUR1=RON4.3218)