Bank of Moscow places 102 bln rubles in additional issue in favor of VTB Pension Admin
MOSCOW. Dec 28 (Interfax) - Bank of Moscow has placed an additional shares issue worth 102 billion rubles in favor of LLC VTB Pension Administrator, part of the VTB group, the bank said in a press release.
The bank placed the 91.7 million shares (par value 100 rubles) in closed subscription. Placement price was set at 1,111.77 rubles per share. One hundred million shares in all were placed, putting the proportion of actually placed shares at 91.7% of the number of shares in the issue.
If all the additional shares are placed, the bank could see 111.2 billion rubles in proceeds.
The bank's charter capital prior to placement was 18 billion rubles, so it would rise to 27.2 billion rubles after the additional shares are placed.
Bank of Moscow is currently undergoing financial rehabilitation. During this process, the bank has already received a ten-year, 294.8-billion-ruble loan from the Deposit Insurance Agency (DIA).
The VTB group now holds a 92.22% stock interest in Bank of Moscow. OJSC Capital Insurance Group has 2.28%. Another bank shareholder is Plenium Invest Ltd. with 4.51%. According to unofficial reports, Plenium is controlled by Bank of Moscow's former chief, Andrei Borodin.
Bank of Moscow ended Q3 2011 in 6th place and VTB 2nd by assets on the Interfax-100 Russian bank size ranking.