Raiffeisen Bank plans to sell 3 million new shares
Raiffeisen Zentralbank Oesterreich AG (RZB), the majority owner of Raiffeisen Bank International AG seek permission from shareholders to fill the capital hole of 2.5 billion EUR. by selling new shares and other securities. RZB, whose shares are not tradable and are the property of 8 regional Austrian cooperative banks, the shareholders meeting scheduled for 28 December. The company plans to sell up to 3 million new shares in RZB (50% of existing shares) and sold shares to forbid right out loud. RZB, whose main asset is 79% of the third largest bank in Eastern Europe – Raiffeisen Bank International, needs additional capital to meet the new capital adequacy requirements of at least 9%, imposed by the banking regulator. On November 24th, Raiffeisen Bank announced that RZB together with work on 20 measures to fill the capital hole, so you do not need to seek state aid or to sell new shares in Raiffeisen Bank International. Measures include shrinkage of assets and allocation of profits.
Tags: new shares, Raiffeisen Bank, RZB, shares