BANJA LUKA (Bosnia and Herzegovina), March 20 (SeeNews) - Bosnian commercial bank Nova Banka said on Thursday it has raised 9.93 million marka ($7.80 million/5.02 million euro) in a new share issue placed in December on the Banja Luka Stock exchange (BL Berza).
The bank said earlier it would use the raised funds to strengthen its market position and increase its loan portfolio.
Nova Banka sold 6,620 ordinary shares, each worth 1,500 marka, in a private offer to its shareholders and previously approved buyers, it said in a filing to BL Berza.
The bank’s share capital is 43.142 million marka, distributed in shares with a nominal value of 1,000 marka each. The stock last changed hands at 4,200 marka on March 11, up from 3,960 marka in the previous trading on March 10, BL Berza statistics show.
Nova Banka (www.novabanka.com) is based in Banja Luka and has 11 branches and 58 offices throughout the Serb Republic, which together with the Muslim-Croat Federation forms war-divided Bosnia. The bank has operated since 1992.
Nova Banka’s largest single shareholder is Amsterdam-registered Poteza Adriatic Fund with a 36.62% stake, followed by the International Finance Corporation (IFC) with 8.07%, local businessman Slobodan Radanovic (5.47%) and Slovenian fund manager Prva Pokojninska Druzba (5.18%). The remaining shareholders are individuals, private companies and investment funds, which have stakes smaller than 5.0% each.
Bosnian media reported earlier this week Nova Banka had a net profit of 5.3 million marka in 2007, up from 4.8 million marka the previous year.
(1 euro = 1.95583 Bosnian marka)
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