Raiffeisen Bank Aval Postpones Additional Share Issue

At its EGM on Friday, Raiffeisen Bank Aval (BAVL: FORM) was forced to postpone its 71% share capital increase as its previous share issue is still in the process of being registered by the National Bank of Ukraine. The bank’s shareholders voted to put off their share emission until their AGM in the spring of 2007.  In November, the bank announced plans to increase its charter fund by 100 mln through an additional share issue entailing the issue 50 mln shares with a par value of USD 2.