Getin Noble Bank with PLN 190 mln private placement offer

WSE-listed Getin Noble Bank plans on increasing its charter capital by PLN 190 million by issuing 69.6 million C-series shares at PLN 2.73 apiece under a private placement offer, the bank said in a market filing. Shares will be sold to bank’s main shareholder Leszek Czarnecki. The issue will “enable a relatively quick increase of bank's equity,” the lender explained. GNB informed that it also considered a public offering as an alternative way to obtain these funds. “However, taking into account: the current market situation, investors' lack of willingness to purchase shares of financial institutions, current listing of the bank's shares, schedule, and significant costs of carrying out such a transaction, the risk of a possible public offer failure is high. In addition, the failure of the public offer would also entail image losses,” the bank explained.