VEDOMOSTI. The Board of Directors at National Trade Bank (NTB) approved the decision to issue 14 mln additional common shares with Rub 10.00 par value each at the placement price of Rub 85.72 per share, the bank said in a statement. As Vedomosti business daily wrote, the bank is looking to raise some Rub 1.2 bln.
The SPO issue should be registered with the Federal Financial Markets within a month from the report’s publication (till April 17), head of research at Financial Bridge Investment Company Alexey Serov said. During the subsequent 45 days the bank’s shareholders will be able to exercise the preemptive right to buy the additional shares. For the record, NTB’s shareholders are Vladimir Kadannikov (38.86%), Vnesheconombank (VEB, 24.22%), National Investment Finance Corporation (NIFC, 19.99%), AvtoVAZ (15.08%) and VTB (1.85%).
As NTB press secretary Irina Yanovskaya said, SPO proceeds will be allocated to the bank’s development. Specifically, this year the plan is to increase the number of retail offices from 31 to 51.
