First Republic Bank has increased its charter capital by Rub 100 mln through the issue of additional registered non-documentary shares. As the lending institution’s press service reported, the additional share issue includes 10 mln shares with Rub 10.00 par value each. The securities were floated via closed subscription among the earlier defined group of persons at the placement price of Rub 40.00 apiece.
Shareholders, who took no part in an extraordinary shareholder meeting when taking a decision to lift the charter capital, were given the pre-emptive right in the manner provided for by effective legislation. After the SPO report passes registration, First Republic Bank’s charter capital will amount to Rub 435 mln and equity capital will reach Rub 1.5 bln.
According to the data from news agency Banki.ru and Interfax-CEA, as of July 1, 2008 net assets of First Republic Bank stood at Rub 11.81 bln (160th place in Russia). The lending institution is a member of the national deposit insurance system.
