Transilvania Bank (BT) has a new shareholder, the International Finance Corporation (IFC), World Bank investment division, set to hold 3.62 percent of BT share capital, according to a bank release.According to the bank’s notification, IFC representatives decided to convert into shares BT bonds in the value of 20 million dollars, IFC holds since 2005.
The conversion price is 1.5049 lei per share and represents the average between the maximum and minimum daily BT share price, weight established according to the daily trading volume, afferent to the 90 days Bucharest Stock Exchange is opened for trading, previously to the date of setting up the price.
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