Ukrsotsbank to increase share capital by 4.9%; POSITIVE
At its AGM yesterday, Ukrsotsbank shareholders voted to increase the bank’s share capital by 4.9%, or 500 mln shares, to 10,700 mln total shares in an additional share issue. The placement share price is $0.30, while the nominal value is $0.02. By issuing additional shares, the bank plans to increase its capital by $150 mln, which is POSITIVE for further USCB asset growth in terms of increasing its capital adequacy ratio (CAR).
The bank changed its supervisory and revision boards, replacing all members with representatives of UniCredit Group, its strategic foreign investor. USCB also decided to pay out $5,000, or 0.006% of its net profit ($71.7 mln), in dividends to preferred shareholders.
Andrey Zaripov Analyst (+380 44) 490-1614
