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BANKING & FINANCE NOTES

Poštová Banka mulls new share issue

Participants at a shareholders meeting of Poštová Banka (Post Bank) on July 28 decided to up the bank's registered capital, currently at 909 million Sk, by issuing shares worth 300 million Sk.

Last year, a Poštová Banka stock issue worth 309 million Sk took place without the participation of some of its major shareholders, such as Slovak Telecom, Slovak Post Office, Postparkasse, the Ministry of Transportation and Bundesländer AG.

In that issue, the companies Tectum Banská Bystrica and Trans Rail Košice each acquired a 15 percent stake in Poštová Banka and the firm Kinex Bytča got 4 percent.

According to an aide to Poštová Banka's president, Štefan Kridla, shareholders have the right of first refusal on the issue, and sources say that Slovak Telecom (owns 34 percent), Slovak Post Office (22.7 percent) and the Ministry of Transportation (1.7 percent) will likely exercise that right. If the issue does take place, the share of state-owned companies in the bank will decrease from 57.8 percent to 43.5 percent.

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