OREANDA-NEWS. March 16, 2009. The Bank of Russia registered an extra issue of 7 trillion registered ordinary book-entry shares by Sviaz-Bank at a par value of 0.01 ruble each, for a total value of 70 billion rubles, reported the press-centre of Sviaz-Bank.

The extra shares will be allotted by restricted subscription, in particular, to the state-controlled corporation, the Bank for Development and International Business (better known by its abbreviated Russian name of Vnesheconombank).

The shares will be distributed to persons exercising preemption in acquiring any new shares beginning on March 12, 2009. Distribution of shares to persons exercising preemption will end 45 days from the date of the notice sent to each of them that they have preemption in purchasing shares. Allotment of shares by restricted subscription will be terminated 30 days from the expiry of the preemptive right or on the day when the last share in the issue has been allotted (depending on which of these dates comes first).

The extra share issue will help boost the Bank’s authorized capital to 75.1 billion rubles, or by a factor of 14 from what it is now.