Head of Sibex wants to raise 2.8m euros from shareholders for Depository

Shareholders of exchange operator Sibex (SBX) at the end of last week approved a share capital increase by 11.3 million RON (nearly 2.7 million euros) via a cash contribution. The Sibiu Stock Exchange was founded by Teodor Ancuţa, who has run it for over 15 years.
Each shareholder will be able to subscribe a new share per every 2 shares held, at a price equal to the nominal value, of 1 RON/share. On the market, the latest transaction involving Sibex shares, which was listed on its own platform at the beginning of the year, was conducted at a price of 1.75 RON/share. This values the Sibiu Monetary and Financial Commodities Exchange at around 37.6 million RON (8.8 million euros).
Sibex shareholders will be able to sell their preference rights attached to the shares to be issued as part of the operation, with the rights available for trading for one month on the Sibiu exchange.
The money from Sibex's capital increase is necessary in order for the exchange operator to boost the capital of Sibex's depository above the limit imposed by legislation in force, i.e. a minimum 5 million-euro capital, which it is bound to reach by March next year.