Getin Noble Bank sells PLN 100 mln shares to LC Corp

WSE-listed Getin Noble Bank sold 36.6 million new shares at PLN 2.73 apiece to WSE-listed real estate developer LC Corp controlled by the same lead shareholder Leszek Czarnecki under a private placement, the company said in a market filing.

This was the second tranche of shares sold this way to LC Corp, the first one was also valued at PLN 100 million.

This move was done to increase the bank’s capital in order to meet the KNF criteria. Getin Noble Bank committed to raising its capital by PLN 200 million by the end of the year to meet the regulatory demands.