BCR to increase share capital, no BVB listing in sight

The general assembly of BCR shareholders met today and approved an increase of the share capital from RON 1.08 billion to a maximum of RON 1.70 billion, through the issuance of around 6 million new shares that have a nominal value of RON 0.1 per share.

The new shares will be available for subscription to all BCR shareholders at a price of RON 0.1 per share.

The shareholder assembly did not approve starting legal procedures for the listing of BCR shares on the Bucharest Stock Exchange (BVB).

BCR, the leading bank in Romania with 20 percent market share and assets totaling EUR 17 billion, reported a decline in net profit of 86.3 percent to EUR 16.1 million, in the first nine months of 2011.

Ovidiu Posirca

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