Ukrgazbank to increase charter fund 5.4 times
17 June 2009
The temporary administrator of Ukrgazbank (UGZB) ordered a 5.4x charter fund increase at the bank to UAH 3.8 bln via an additional share issue, according to a June 12 mandate, according to Interfax. It is planned to issue 3.1 bln shares at par value of UAH 1.0 (150% premium to the market price). Ukrgazbank was approved for nationalization by the Cabinet of Ministers last week; the state is due to invest UAH 3.1 bln in exchange for an 81.6% stake in the bank.
