Kazakhstan-based subsidiary of Russia's VTB bank increases authorized capital 120%
ALMATY. May 30 (Interfax) - The board of directors of Kazakhstan-based subsidiary of Russia's VTB bank has decided issue additional declared shares, Kazakhstan Stock Exchange (KASE) said in a statement citing a letter received from the bank.
The decision was made on May 20, the issue was registered with Kazakhstan's National Bank on April 19, 2011.
The bank will be placing 1.1 million common shares at 10,000 tenge (145.3/$1) per share.
As of April 1, 2011, the bank's authorized capital stood at 9 billion tenge. The bank has 900,000 place common shares and no preferred shares.
VTB Bank (Kazakhstan) is wholly owned by Russia's VTB.
In 2010 VTB Bank (Kazakhstan) was ranked 493rd by assets among the CIS banks and 22nd among Kazakhstan's banks, according to Interfax-1000: CIS Banks ranking prepared by the Interfax Center of Economic Analysis.