Development Bank of Vojvodina adopts decision on recapitalization

The Development Bank of Vojvodina (RBV) said in a release that a decision had been made at an Extraordinary General Meeting of Shareholders on November 19th to revoke the pre-emption rights and to issue new shares for a known investor.

RBV will issue 3,054,989 common shares with the invidual nominal value of RSD 4,910, thus increasing its capital by RSD 15 billion.

As it was announced earlier, this new issue of shares is intended for a known buyer - the Autonomous Province of Vojvodina.

The issue will be deemed successful if at least 25 percent of shares are subscribed and paid.

AP Vojvodina and the Vojvodina Development Fund have so far been the largest buyers of new issues of shares in RBV, whereas the Republic of Serbia participated in its recapitalization this year.