The National Commission on Securities and the Stock Market has refused Ukrsotsbank (UniCredit Bank, Kyiv) the registration of the issuance of additional common shares for a total of UAH 5.869 billion (a little more than $278 million at the current NBU exchange rate), according to a report on the regulator's website.

The commission made the decision at a meeting on June 4, 2015.

The regulator's press service told Interfax-Ukraine that during the examination of the issuer's documents, which were provided for the registration of a share issue, the commission found discrepancies between some data from the bank and the requirements of current legislation.

Ukrsotsbank informed the agency that it is a technical problem.

"The problem concerns rounding up kopecks in the share price for an additional issue. We, along with the securities commission, are looking for a solution and we are confident that it will be found in the near future," UniCredit Bank Financial Director Giacomo Volpi said.

As reported, Ukrsotsbank at the beginning of April this year announced its intention to increase its charter capital by $250 million. It was planned to convert the corresponding funding from UniCredit Group into the bank's share capital.

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%.