The operation will unfold between January 4 and June 30, 2012 and it will refer to 12 million shares, according to a memo posted on the Bucharest bourse.
The decision was made by bank management based on a shareholder approval issued in April.
Banca Transilvania shares were trading up 2.1% in mid-session Thursday.
Bank shareholders include the European Bank for Reconstruction and Development – 14.61%, Bank of Cyprus – 9.7% and the bank. chairman, Horia Ciorcila – 4.8%. (EUR1=RON4.3125)