Patria Bank (PBK.RO), controlled by investment fund Axxess Capital, will first offer existing shareholders the option of buying one billion shares at a price of RON0.1 per share.
The offer runs between September 21 and October 22 and is intermediated by BRD’s brokerage division.
If there are unsubscribed shares after this first stage, they will be offered exclusively to qualified investors at a higher price than the subscription price.
Patria Bank currently has a share capital of RON274.165 million and 2.7 billion shares.
Patria shares were trading at RON0.09/share on the Bucharest Stock Exchange Thursday, down nearly 2% on the day.