SpareBank 1 Hallingdal Valdres approves NOK 50m rights issue

The board of representatives at SpareBank 1 Hallingdal Valdres has approved a directed share issue to increase the bank's equity capital. This follows a proposal outlined in a stock exchange announcement in November.

The issue involves 211,864 new equity certificates, each with a nominal value of NOK 100, at a subscription price of NOK 236. The sole subscribers will be existing owners Sparebankstiftelsen Øystre Slidre and Sparebankstiftelsen Hallingdal.

Upon completion, the emission is expected to provide the bank with gross proceeds of approximately NOK 50m. The capital raise is contingent upon receiving approval from the Financial Supervisory Authority of Norway.