VTB board approves 102.5-bln ruble share issue
MOSCOW. April 26 (Interfax) - The supervisory board at VTB has approved a decision to boost capital by issuing 2.5 trillion new ordinary shares with par value 0.01 rubles each, the bank said in a statement.
The placement price will be 0.041 rubles a share so the issue could raise 102.5 billion rubles.
The shares will be sold on the Moscow Exchange .
Existing shareholders will have preemptive right to buy the new shares on a pro-rata basis. Shareholders on record as of April 26 are eligible to participate in the rights offering.
VTB's charter capital is currently 104,605,413,373.38 rubles and consists of 10,460,541,337,338 ordinary shares, par value 0.01 rubles each. Capital could rise 23.9% to 129,605,400,000 as the result of the new share issue.
The shares are being issued as part of the latest phase in VTB's privatization. The Vedomosti newspaper has said they might be placed in the next two weeks.