Raiffeisen increases capital by 44m euros

Raiffeisen Bank will increase its share capital by up to 1,811bn ROL (44.4 million euros), through funds contributed by shareholders. All bank shareholders will be able to subscribe for the shares, at the price of 1,000 ROL/share, a sum equal to the par value. Austrian Raiffeisen Group will subscribe to shares worth approximately 43.9 million euros, with the Austrians holding over 99% of the capital at the moment. A similar increase was realised early this year, when the Austrians purchased another 42 million euros in shares. Raiffeisen Bank Romania also has several hundred minority shareholders, the former shareholders of Banca Agricola which merged with Raiffeisen (Romania) in 2002. Banca Agricola shares used to be traded on the Bucharest Stock Exchange until 2002. The new shares left unsubscribed after the capital increase will be cancelled. ZF