An extraordinary General meeting of shareholders of JSC "Raiffeisen Bank Aval" took the decision to increase the Bank's share capital 3,152 billion.
Kiev. December 3rd. - Shareholders of Raiffeisen Bank Aval Public Joint-Stock Company, at their extraordinary general meeting held in Kiev today, decided to increase the bank's authorized capital by UAH 3 billion 152 million by privately placing additional ordinary shares at the existing nominal value (0.1 UAH. per share). This increase in the authorized capital of the bank will take place under the simplified procedure in accordance with the Law of Ukraine “On measures aimed at facilitating the capitalization and restructuring of banks” dated December 28, 2014 No. 78-VIII.
According to the decision of the meeting, additional contributions to the authorized capital of the bank will be made by all minority shareholders who are willing to participate in the additional placement, Raiffeisen Bank International AG (RBI), the European Bank for Reconstruction and Development (EBRD), the majority shareholder of the bank.
By decision of the shareholders' meeting, the owners of ordinary shares of the bank have the preemptive right to acquire additional issue ordinary shares placed by the bank in proportion to the share of their ordinary shares in the total number of ordinary shares of the bank as of the date of the extraordinary general meeting of shareholders - December 3, 2015. During the first stage of the private placement of shares - from 09:00 to 13:00 on December 7, 2015 - the bank concludes purchase and sale agreements with shareholders who, exercising their preemptive right, applied for the purchase of additional ordinary shares of the bank and paid for them, by listing the appropriate funds.
During the second stage of the private placement of shares - from 14:00 to 17:00 on December 7, 2015 - the bank will conclude contracts for the sale of shares for which no contracts were concluded at the first stage. The European Bank for Reconstruction and Development, the participation of which was approved by the general meeting of shareholders of the bank, will become a participant in the second stage of the placement of shares.
“The entry of a powerful international investor - the European Bank for Reconstruction and Development - into the capital of Raiffeisen Bank Aval is another indication of the stability and reliability of our financial institution,” said Vladimir Lavrenchuk, Chairman of the Board of Raiffeisen Bank Aval, following the general meeting. “In addition, after the EBRD joins our number of shareholders, we plan to increase our participation in common projects with this largest investor in the Ukrainian economy, which will make financing from Raiffeisen Bank Aval more accessible for various categories of clients,” he added.
Raiffeisen Bank Aval was founded in March 1992 (until September 25, 2006 - JSPPB "Aval"), for many years among the leading banks of Ukraine on a number of key indicators. Since 2005, the bank has become part of the Austrian banking group Raiffeisen Bank International AG (until October 2010 - Raiffeisen International Bank-Holding AG). As of September 30, 2015, the RBI Group owned a 96.46% stake in the Ukrainian bank.
Raiffeisen Bank Aval is a universal bank that provides a wide range of standard and innovative services to more than 2.8 million customers through its own network of 617 branches throughout Ukraine.
