Before the bond conversion, IFC held 90.58 million shares, or 3.54% of the share capital of the Romanian lender. After the bond conversion, IFC held 139.85 million shares, or 5.36% of the bank’s share capital, IFC and Banca Transilvania said Tuesday in a statement to the Bucharest Stock Exchange.
Late August, the bank’s board of directors approved a capital increase by 49.44 million, through a bond conversion. The bank’s capital increased from RON2.559 billion to RON2.608 billion, with the issuance of 49.44 million shares with a face value of RON1/share.
The conversion price was RON1.7862/share.
Banca Transilvania was trading up 0.1% mid-day Tuesday, at RON1.776/share.
Banca Transilvania’s biggest shareholder is the European Bank for Reconstruction and Development, with 14.6%. Other shareholders include the bank’s board chairman, Horia Ciorcila, with 5.1%, and International Finance Corporation, with 5.36%.