Bank Forum AGM OKs 46% charter fund increase

At their EGM yesterday, Bank Forum (FORM: BUY) shareholders voted to increase the company’s charter fund by 46% to USD 488.9 mln via an additional share issue. The bank plans to issue 75 mln shares at par, USD 2.1 per share. Subscription will be held November 21-December 12. Bank Forum shareholders planned to consider increasing the bank’s charter fund at their EGM on July 30, but the vote was postponed to yesterday.