BCR plans to issue new shares at RON0.65/share, over six-fold higher than the face value of RON0.1/share.
Thus, the bank aims to issue a number of 770.76 million new shares with a face value of RON0.1 per unit, which could be bought for RON0.65 per share.
As a result of the increase, BCR’s share capital will grow by RON77 million (EUR17 million), from RON1.55 billion to RON1.63 billion.
The remaining attracted amount from the capital hike, namely RON424 million, will remain at the bank’s disposal.
BCR switched to a loss of 762.5 million lei (EUR172.1 million) in the first nine months from profit a year earlier, hurt by higher provisions. In the first nine months of 2011, BCR reported a net profit of RON67.6 million.
The bank’s stockholders will equally discuss December 3 on amending BCR’s constitutive act so that the Executive Committee could decide upon dissolving subsidiaries or agencies without the approval of the Supervisory Board.
BCR group includes BCR bank, BCR Banca pentru Locuinte, BCR Administrare Fond de Pensii, BCR Leasing, BCR Asset Management, BCR Securities, Anglo Romanian Bank Limited and BCR Chisinau.