The bank’s share capital will increase from RON2.559 billion to RON2.608 billion (EUR591.9 million) by issuing 49.44 million shares at a face value of RON1, the lender said in a statement to the Bucharest Stock Exchange.
The conversion price is RON1.7862/share considering an exchange rate of RON4.4 to the euro, the bank noted.
Banca Transilvania closed at RON1.759 a share on the stock market Thursday, down 0.6%.
The bank raised EUR30 million in May 2013 selling seven-year convertible bonds. The biggest buyers were the European Bank for Reconstruction and Development (EBRD) and International Finance Corporation, a division of the World Bank Group.
EBRD is Banca Transilvania’s biggest shareholder, with 14.6%. Other significant shareholders include the bank’s board chairman Horia Ciorcila (5.1%) and International Finance Corporation.