UkrsotsBank To Boost Share Capital By 176% At April AGM

At Ukrsotsbank’s (USCB: HOLD) AGM on April 17 the bank’s shareholders are scheduled to approve a USD 129 mln share capital increase to boost USCB’s retail and corporate lending programs. The bank will issue 6.5 bln news shares at par bringing the total number of shares to 10.2 bln and total share capital to USD 200 mln. Subscription is scheduled for June 4-June 27 and the ex-right date is June 4. Alexander Viktorov: This move will certainly boost the bank’s lending power. These funds are connected to the additional sum Banca Intesa agreed to pay in September of 2006.