The Board of Directors at Moscow Mortgage Agency (MMA) approved a decision on the additional issue of the bank’s common registered non-documentary shares via closed subscription, the lending institution said in a press release. At present, the charter capital of Moscow Mortgage Agency stands at Rub 790.22 mln. City Hall, the lending institution’s sole shareholder, is to allocate Rub 649.88 mln to upsize the bank’s charter capital. The press service noted that after the stock placement the shareholder’s equity stake will remain unchanged and will equal 100%.
According to the data from news agency Banki.ru and Interfax-CEA, net assets of Moscow Mortgage Agency equaled Rub 7.36 bln (216th place in Russia) as of July 1, 2008. MMA is a specialized mortgage lender that provides households with over 30 mortgage products, including mortgage loans for apartments, individual houses and real estate-backed loans.
