Nomos-Bank planning 650-mln ruble share issue
MOSCOW. March 29 (Interfax) - Nomos-Bank is planning to issue 13 million new ordinary shares in a public subscription to raise capital by 650 million rubles, the bank said in a statement.
The board reached the decision on March 28.
The shares will each have par value of 50 rubles.
The bank currently has 92,422,370 issued ordinary shares and 12.1 million preferred shares, par value 50 rubles each, for a total of 5,226,118,500 shares. So charter capital could rise 12.44% and the number of ordinary shares by 14.07% is the new issue is sold.
The bank's supervisory board will decide on the placement price once the rights offering has expired, based on the market price of the shares. The list of shareholders eligible to participate in the rights offering was compiled as of March 28.
The lender's financial director, Vladimir Rykunov said in a conference call with reporters on Tuesday that Nomos Bank was not planning to recapitalize at the moment, and believes its current capital adequacy ratio is acceptable.
The bank's capital adequacy ratio to IFRS was 16.2% as of December 31, 2011, with Tier 1 capital at 12%. The capital adequacy ratio dropped to 11.3% as of January 1, 2012 and to 11.2% as of March 1, while the minimum required is 10%.
"This is quite sufficient for our growth in the near future. However, we do not rule out certain other ways to develop, including in the area of capital," Rykunov said.
He said there is no need to increase capital at the moment, but if such a need arises the bank will consider various options. "We do not rule out any ways of development. This could be either an SPO or a private placement, anything. Time will tell what leverage we will make recourse to if needed," Rykunov said.
Nomos Bank's head of strategy and development, Jean-Pascal Duvieusart said in a conference with analysts that the lender does not intend to enter the market until it sees progress on GDR legislation, and until foreign investors are provided access to the Russian market, which is expected to happen in the middle of 2012.
Nomos Bank had an IPO in mid-April last year, during which it placed 22% of increased charter capital prior to an over-allotment option. The bank's shareholders raised $718 million with the offering.
Nikolai Dobrinov indirectly controls 7.11% of the Nomos Bank stock. He, along with fellow ICT Group co-owner Alexei Gudaitis and Zbynek Sterba, owns the company Crisandra Holdings, which holds 4.12% of the stock in the bank. Gudaitis himself controls 15.88% of the stock in the lending organization.
Another ICT co-owner, Alexander Nesis, has 17.54% of the Nomos stock. The bank's chief, Dmitry Sokolov and his predecessor Igor Finogenov, hold 3.9% of the votes. Russia Finance Corporation (PPF group) has 26.53% of Nomos Bank. Deutsche Bank, one of the IPO organizing banks, is the nominal holder of 22.82%.
The bank was Russia's 13th largest by assets, according to the Interfax-100 ranking at the end of 2011.