VTB's supervisory board approves additional share issue worth 63.2 bln rubles, placement price to be determined later

MOSCOW. July 31 (Interfax) - The supervisory board of VTB has decided to increase the bank's charter capital by 63.2 billion rubles through an open subscription of 1.264 billion ordinary shares with a nominal value of 50 rubles each, according to the bank's materials.

The placement price of the ordinary shares, including for those with pre-emptive rights to acquire them, will be determined no later than the date the share placement begins.

"The issuance of additional ordinary shares will allow VTB to strengthen its capital base amid new regulations applied to systemically important credit institutions. The decision will also contribute to further business growth and enhance the long-term investment appeal of VTB shares," VTB First Deputy CEO Dmitry Pyanov said.