Unibanka submits documents to central bank

  • 1998-12-03
RIGA (BNS) - Latvia's Unibanka has submitted to the Bank of Latvia documents about Swedish Skandinaviska Enskilda Banken's (SEB) acquisition of a 30 percent share, central bank spokesman Edzus Vejins told BNS.

The Bank of Latvia licensing committee is presently assessing the package, submitted by Unibanka, for consideration by the central bank's board. SEB announced on Nov. 18 that it will buy 8.55 million newly issued shares in Unibanka which makes up 30 percent of the bank's current share capital, paying 1.33 lats ($2.30) per share.

The stock issue will raise Unibanka's share capital from 28.5 million lats to 37 million lats. In addition, Unibanka will get a 10 million lat subordinated loan.

Unibanka is the second largest commercial bank in Latvia in terms of assets. Its shares are quoted on the official list of the Riga Stock Exchange as well as on the Berlin and London stock exchanges.