trending Market Intelligence /marketintelligence/en/news-insights/trending/3bw1pkfxaw8i08craiaoig2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Getin Noble buys stakes in 2 companies to help shareholder finance capital hike

Key Credit Risk Factors When Assessing Banks In The Context Of COVID-19

Street Talk Episode 61 - Investors debate if U.S. banks have enough capital in post COVID world

You Down With PPP? Consider The Risks

Street Talk Episode 60 - You Down With PPP? Consider The Risks

Getin Noble buys stakes in 2 companies to help shareholder finance capital hike

LC Corp BV, an investment vehicle owned by Polish businessman Leszek Czarnecki, raised almost 128 million Polish zlotys from the sale of stakes in Getin Holding SA and Idea Bank SA, Parkiet reported March 23.

Both stakes were purchased by Getin Noble Bank SA, also controlled by Czarnecki. Getin Holding said in its March 26 filing that Getin Noble acquired 75,831,030 shares of the company, equivalent to a 9.99% stake. Prior to the transaction, Getin Noble did not own any shares in Getin Holding. The shares were sold at a price of 1.07 Polish zlotys apiece. After the transaction, LC Corp's stake in Getin Holding fell from 44.16% to 34.17%, Parkiet said.

LC Corp also sold a 3.88% stake in Idea Bank at a price of 15.4 zlotys per share, after which its holding in the lender dropped to 2.29% from 6.17%.

The transactions were carried out to help Czarnecki raise funds to participate in the upcoming 190 million zloty additional share offering by Getin Noble Bank, Parkiet said.

Getin Noble financed the acquisitions of the two stakes from its current liquidity, which means they will not affect its capital adequacy ratios, according to the newspaper.

As of March 26, US$1 was equivalent to 3.39 Polish zlotys.