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CIB Bank gets Ft 17 bln capital raise

In Hungary

Intesa Holding International has decided to raise registered capital at its Hungarian unit, CIB Bank Rt, by Ft 17 billion to Ft 40.5 billion, CIB Bank announced on the website of the Budapest Stock Exchange yesterday. Registered capital will first be raised by Ft 11.25 billion through the issue of 11,250,000 new A-series shares with face value of Ft 1,000 a piece. These A-series shares will be subscribed by Intesa. Registered capital will be raised by a further Ft 5.75 billion with the issue of shares against net assets in excess of registered capital. These will be offered to employees free of charge.

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