EnglishSIF Transilvania will reach a market value of 1 billion EUR, according to recent company estimates. SIF Transilvania"s share capital will be increased to 950 million EUR effective as of Monday, July 23rd. Until then, SIF Transilvania shares are suspended from trading on the capital market.
"We"ve received the green light from the National Securities Commission (CNVM) to perform the capital increase on Monday. According to the shareholder"s decision of April 28th, one free share will be issued for every share held by May 18th. The capital increase is the result of the lawsuit we"ve had with Cocor Bucharest," said SIF Transilvania CEO Mihai Fercala.
SIF Transilvania concluded H1 with a gross profit of 91.61 million RON (27.7 million EUR), up three times year-on-year. The company"s estimate was 50 million RON. The result was influenced by the collection in June of dividends from Romania"s two largest banks, BCR and BRD.
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