Rodovid to sell stake to Ukrainian government?

Yesterday Rodovid Bank (RODB) announced it amended the agenda for its EGM scheduled for February 26 to include consideration of selling a stake to the government. According to Rodovid, if the government buys in, it would not disrupt the bank’s agreement with ISTIL; it was reported on Jan. 12 that ISTIL was planning to purchase a 39% stake in Rodovid Bank for USD 100 mln. At the same time, Rodovid said that state ownership of a stake in the bank would calm depositors. In a simultaneous move, Rodovid also plans to nix the planned 2.6x share capital increase to UAH 700 mln until it agrees with the government and strategic investor regarding recapitalization.