MOSCOW, September 18 /PRRussia/ — At an extraordinary shareholders meeting the International Moscow Bank (IMB) has endorsed the decision to issue 2.7 billion roubles ($100m/E80m) in additional common and preferred shares. The IMB capital will thus increase by more than half to reach 7.8b roubles ($290m/E230m). Additional shares will be placed via closed subscription among IMB shareholders. Specifically, 141,896 common shares, each with a nominal value of 16,820 roubles ($628/E494), will be distributed as follows: the HVB group, part of the UniCredit Group and holder of the IMB controlling stake, will take over 75,029 common shares and Nordea (Finland) will get 37,516 shares, while 22,529 shares will go to Eurobank (BCEN-Eurobank) and 6,822 shares to EBRD.
IMB will also issue 18,284 B-type preferred shares, each share having a nominal value of 16,820 roubles ($628/E494). The shares will be acquired by Eurobank and EBRD, which will receive 9,142 preferred shares each. Shareholders have also decided that if Nordea withdraws its shares from IMB before additional shares are placed, common shares will be placed via closed subscription among the three remaining bank shareholders. HVB will thus receive 112,545 shares, Eurobank 22,529 shares and EBRD 6,822. No changes are stipulated in distributing preferred shares. Shareholders have also approved the relevant decision to amend the IMB Rules to allow the bank to issue B-type preferred shares and bring them under regulations.
Source: IMB press service
