The Ukrainian Bank for Reconstruction and Development (UBRD, Kyiv) sold to China's Bohai Commodity Exchange (BOCE) in November 2016 has increased its charter capital by UAH 2.05 million, to UAH 120 million via an additional issue of shares, the press service of the State Property Fund of Ukraine has reported.

On December 19 the new investor in the bank met the key requirement to increase the bank's charter capital to UAH 120 million via an additional issue of 4,001 shares.

"Thus, the size of the charter capital was brought in line with the regulatory requirements and the National Bank of Ukraine (NBU) declared that the bank's operations meet Ukrainian law," the fund said.

As reported, a state-owned stake of 99.9945% of the UBRD was sold at the starting price of UAH 82.827 million.

BOCE is the largest spot commodity exchange in China. Chinese citizens, several state-run companies and the administration of Tianjin founded the exchange. The exchange was founded in 2009. Its annual turnover is around $1 trillion.

The UBRD was founded in 2004 to develop corporate, small and medium-sized businesses via crediting. Its owner was first the State Innovation Financial and Credit Agency, then the State Investment Company. In 2013, it was transferred to the Finance Ministry, and Mykola Azarov's government planned to create a development bank on its basis.

The bank ranked 100th among 100 operating banks as of October 1, 2016, in terms of total assets worth UAH 118.721 million, according to the NBU.