The FINANCIAL — Shareholders of the Public Joint Stock Company Raiffeisen Bank Aval at their extraordinary general meeting, held on December 3 in Kyiv, approved the decision to increase the bank’s statutory capital by UAH 3.152 billion through a private placement of additional ordinary shares at the existing par value of UAH 0.1 per share.
The given statutory capital increase will be made with the use of a simplified procedure in accordance with the Law of Ukraine “Measures Aimed at Facilitating the Capitalization and Restructuring of Banks” dated 28 December, 2014, No 78-VIII.
Following the decision of the shareholders’ meeting, additional investments into the bank’s statutory capital will be made by all the minor shareholders wishing to take part in the additional placement of shares, and by the major shareholders of the bank — Raiffeisen Bank International AG (RBI) as well as the European Bank for Reconstruction and Development (EBRD).
According to the meeting’s decision, holders of the bank’s ordinary shares have a preferential right for acquiring ordinary shares of the additional emission, offered by the bank, in proportion to their percentage of ordinary shares in the bank’s total common stock as of the date of the extraordinary general shareholders’ meeting held on 3 December, 2015. During the first phase of the private offering — from 09:00 till 13:00 on 7 December, 2015 — the bank will conclude purchase-sale agreements with the shareholders, who have applied for share purchasing and transferred the required payment for the shares while realizing their preferential right.
During the second phase of the private placement — from 14:00 on 7 December till 17:00 on 7 December, 2015 — the bank will conclude agreements on purchase-sale of the shares, which were not embraced by the corresponding agreements on the first phase of the offering. The European Bank for Reconstruction and Development will participate in the second phase of the share placement (its participation has been approved by the general shareholders’ meeting of the bank), according to Raiffeisen Bank.
“The participation of a strong international investor — the European Bank for Reconstruction and Development — in the capital of Raiffeisen Bank Aval serves as a confirmation of the stability and reliability of our bank”, commented the results of the shareholders’ meeting Volodymyr Lavrenchuk, CEO of Raiffeisen Bank Aval. “In addition, after EBRD joining our shareholders, we plan to expand our participation in joint projects with this largest investor in the Ukrainian economy, what will make Raiffeisen Bank Aval’s financing more accessible for different categories of clients”, he added.
Raiffeisen Bank Aval, founded in March 1992 (before 25 September 2006 — JSPPB “Aval”), has been one of the leading Ukrainian banks in terms of a number of core parameters for many years. Since 2005, the bank has become part of the Austrian banking group Raiffeisen Bank International AG (before October 2010 — Raiffeisen International Bank Holding AG). As at 30 September 2015, the RBI Group owned 96.46% of the stock of JSC Raiffeisen Bank Aval.
Raiffeisen Bank Aval is a universal bank, which offers a wide range of standard and innovative services to over 2.8 million clients through its regional network of 617 branches all around Ukraine.
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