FinComBank is planning to raise its capital

FinComBank, a Moldovan bank, is planning to raise its capital by issuing 2m new shares, a spokesman said.

The bank has not yet decided the price of the shares and therefore the value of the capital raise. However, the nominal value of FinComBank's existing shares is 100 Moldovan lei. At that price, 2m shares would be worth MDL 200m (EUR 12m).

The bank is currently seeking foreign institutional investors that would subscribe these shares, the spokesman said.

"As soon as FinComBank will find potential investors a new capital issue will be declared," he said.

According to its own website, at present the bank has 113 shareholders.

Mergermarket financial news agency.  October 12, 2006