BRAbank ASA (OB:BRA-ME) announced a private placement of 130,000,000 shares at a subscription price of NOK 0.50 per share for gross proceeds of NOK 65,000,000 on March 5, 2020. The transaction is subject to registration of the increased equity of the Company pertaining to the transaction with the Norwegian register of business enterprises and the Norwegian central securities depositary. The payment date for the allocated shares is expected to be on or about 13 March 2020. On the same day the company allotted 41,600,000 shares to returning investor Braganza AS and 400,000 shares to Jan Greve-Isdahl.