Shareholders of exchange operator Sibex (SBX) at the end of lastweek approved a share capital increase by 11.3 million RON (nearly2.7 million euros) via a cash contribution. The Sibiu StockExchange was founded by Teodor Ancuţa, who has run it for over 15years.
Each shareholder will be able to subscribe a new share per every 2shares held, at a price equal to the nominal value, of 1 RON/share.On the market, the latest transaction involving Sibex shares, whichwas listed on its own platform at the beginning of the year, wasconducted at a price of 1.75 RON/share. This values the SibiuMonetary and Financial Commodities Exchange at around 37.6 millionRON (8.8 million euros).
Sibex shareholders will be able to sell their preference rightsattached to the shares to be issued as part of the operation, withthe rights available for trading for one month on the Sibiuexchange.
The money from Sibex's capital increase is necessary in order forthe exchange operator to boost the capital of Sibex's depositoryabove the limit imposed by legislation in force, i.e. a minimum 5million-euro capital, which it is bound to reach by March nextyear.
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