Registered capital of Erste Hungary was raised to HUF 146 billion through the issue, which involved a sale of 44 billion shares, according to MTI. The new shares, with a nominal value of HUF 1, were subscribed for HUF 1.7727 apiece, in cash, MTI added.
The Hungarian state and the EBRD on June 20 finalized the acquisition of 15% stakes each in Erste Hungary, as per an agreement made in February 2015. Hungary reportedly paid HUF 38.9 billion for its 15% stake, and EBRD paid roughly the same amount. The new capital raise of HUF 78 billion roughly matches the amount paid in by the state and EBRD.
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