The Board of Directors of Banca Transilvania has approved the buyback of 15m shares.

Banca Transilvania published a document in which they inform their investors that the Board of Directors of Banca Transilvania has approved the buyback of 15m shares (of the total of 35m shares approved for buyback by the Extraordinary General Shareholders’ Meeting). The share buyback would make for 0.3% of the total number of shares.

The buyback will be done at a nominal value of RON 1 per share as well as at a price at least equal with the BSE market price at the moment of the acquisition and at a maximum price of RON 4, in accordance with the daily transaction price on BSE for the period of share buyback. At the current share price the value of the buyback would be EUR 6.6m

Bids are open from 5 March until 30 March 2019.

To read about Banca Transilvania’s 2018 preliminary results click here.

To read our blog on share buybacks click here.