Ukrgazbank AGM Approves Results of USD 30 mln Share Capital Increase

Ukrgazbank (UGZB: HOLD) AGM on April 4 approved its charter fund increasing by 20% to USD 118.8 mln, by issuing one million common shares, Interfax reports. According to Ukrgazbank, during the first subscription stage, it placed 89 mln shares at par value, UAH 1. The remaining 11 mln shares were sold at UAH 5.50 (close to the current mid-market price) during the second subscription stage. In total, the capital inflow amounted to USD 30 mln. Bank CEO Vadym Lyashko said that by the end of the year, Ukrgazbank plans to increase its charter fund by another 33-42% to USD 158.4-168.3 mln.