Securities market commission approves issue of Ukrsotsbank's shares worth UAH 5.5 bln
The National Commission for Securities and the Stock Market of Ukraine has approved an additional issue of ordinary shares of Ukrsotsbank (the UniCredit Bank trademark, Kyiv) worth UAH 5.55 billion, the regulator said on its website.
The decision was made by the commission at a meeting held on June 25, 2015.
As reported, Ukrsotsbank at the beginning of April this year announced its intention to increase its charter capital by $250 million. It planned to convert the corresponding funding from UniCredit Group into the bank's share capital.
The National Commission on Securities and the Stock Market has refused Ukrsotsbank the registration of the issuance of additional common shares for a total of UAH 5.869 billion.
Ukrsotsbank informed the agency that it is a technical problem.
On June 25 Ukrsotsbank decided to increase its charter capital by 3.3 times, or UAH 5.55 billion, to UAH 8.018 billion through an additional issue of shares under a simplified procedure. The bank will hold a private placement of additionally issued shares with a par value of UAH 0.1.
Ukrsotsbank was founded in 1990. UniCredit Bank Austria AG in January 2015 owned a 37.3533% stake in the bank, PJSC Ferrotrade International – 35.5811%, UniCredit S.p.A. – 26.479%.
Ukrsotsbank ranked 6th among 133 operating banks as of April 1, 2015, in terms of total assets worth UAH 55.278 billion, according to the National Bank of Ukraine.
