Slovenia’s NKBM Supervisory Board approves EUR 100m capital hike

Slovenian blue-chip lender Nova Kreditna Banka Maribor said on Wednesday its supervisory board gave the green light to a capital hike of 100 million euro ($128 million), SeeNews reports.

The capital of Nova Kreditna Banka Maribor (NKBM) will be increased through the issue of 98,522,167 new ordinary shares, it said in a filing with the Ljubljana Stock Exchange.

- The share capital of Nova KBM d.d. is to be increased with a new in-kind contribution resulting from the conversion of a hybrid loan facility in the amount of 100,000,000 euro, which was provided to Nova KBM d.d. from the Republic of Slovenia on the basis of the Hybrid Loan Facility Agreement dated 31 December 2012 - NKBM said.

The rights attached to the new shares will be identical to the rights attached to the existing ordinary registered shares of NKBM, it added. The bank's supervisory board agreed to the exclusion of pre-emptive rights of existing shareholders to purchase new shares.

NKBM will receive in-kind contribution from the Republic of Slovenia. Payment for shares is expected to be made until April 8.

The bank’s capital currently stands at 40.8 million euro.