WOOD Flash – Banca Transilvania: issues new shares by capitalising reserves – new price target
Based on the EGM’s decision on 25 April 2018, Banca Transilvania has issued new shares by capitalising reserves. The ex-date for the operation is today (2 August). For every 100 old shares held, Banca Transilvania shareholders will get 10.85 additional shares. The total number of ordinary shares will increase from 4,341,439,404 to 4,812,481,064. As a consequence, we have reduced our price target (PT) for the bank to RON 2.63/share, from RON 2.92/share.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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