KBC increases its hold over Kredyt Bank via share issue purchase

The share issue conducted by Kredyt Bank (KB) has been successfully finalized. Investors have signed up to buy 63.4 million shares, thanks to which the company will raise over zł. 665.5 million. Belgian bank KBC, which was the guarantor of the issue, most probably acquired 58.9 million shares. Therefore its share in KB will rise from the current 76% to over 81%. A break on individual investors aspiration to buy shares was no doubt its price, as they amounted to zł. 10.5, which was higher than market evaluations. "The funds raised from the issue will probably be used by KB to cover loan reserves," said Andrzej Powierża, an analyst with DI BRE Bank, adding that thanks to the capital, the bank will have a liquidity ratio of over 8%. KBC also announced plans to purchase a stake of 11% in insurer Warta, a transaction which was due to take place this week, although Puls Biznesu has learnt that the Belgians have not made a final decision on when the stake will be acquired. (Puls Biznesu, p. 12) A.K.