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January 27, 2023

IFC owns over 5 pc of Banca Transilvania shares

The International Finance Corporation’s (IFC) participation in the Banca Transilvania (TLV) has risen from 3.54 per cent to 5.36 per cent as a consequence of the fact that bonds issued by the bank and owned by the international financial institution, which is a division of the World Bank, were converted into shares.
Previously, IFC had 90.58 million shares, representing 3.54 per cent of Banca Transilvania’s registered capital. After the conversion process the package owned rose to 139.85 million shares, representing 5.36 per cent of the registered capital, an IFC announcement sent by Banca Transilvania to the Bucharest Stock Exchange (BVB) shows.
On Tuesday, halfway through the trading day, the bank’s shares rose by 0.1 per cent to RON 1.776 per unit.
In May 2013 Banca Transilvania drew EUR 30 M by selling seven-year bonds convertible into shares, the biggest subscriptions being made by its main shareholders, EBRD and International Finance Corporation.
The European Bank for Reconstruction and Development (EBRD) is Banca Transilvania’s biggest shareholder, holding 14.6 per cent of its shares according to the latest data. Other significant shareholders include the bank’s Administrative Council Chairman Horia Ciorcila (5.1 per cent), but also the International Finance Corporation (5.36 per cent).

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