Krayinvestbank looking to up charter capital

INTERFAX. Krasnodar Regional Investment Bank (Krayinvestbank) fully placed its additional shares worth Rub 1.21 bln. Krayinvestbank fully floated via closed subscription in favor of its major shareholder (the government of the Krasnodar region) 1,210,653 common registered non-convertible non-documentary shares with Rub 1,000 par value each. The placement price equaled Rub 1,239. As a result, the bank raised Rub 1.5 bln.

The additional share issue was registered by the Bank of Russia on February 13, 2008 under entry # 1-01-03360-В-011-D. As the bank’s spokesmen told Interfax, after the SPO registration the charter capital increased to roughly Rub 1.9 bln. The Krasnodar region represented by the Department of Property Relations owns 91.71% of Krayinvestbank’s shares.

In 2007, Krayinvestbank ranked 158th in terms of assets in the Interfax-100 ranking, prepared by Interfax-CEA.