OREANDA-NEWS. July 15, 2009. The public offer of AS “Latvijas Krajbanka” (hereinafter referred to as Krajbanka) ordinary bearer shares ended on July 14th 2009, during which the shareholders and investors were offered to acquire 5`000`000 new issue shares. Within the public offer 1’000’002 shares were subscribed and fully paid. According to the Issue prospectus of Krajbanka the share issue shall be deemed accomplished in the amount of the placed shares, reported the press-centre of Latvijas Krajbanka.

In the result of the issue the stock capital of Krajbanka will be increased up to LVL 13 149 248 (EUR 18 709 694). The extraordinary shareholders` meeting will be called shortly, during which the amendments of articles of association related to the stock capital increase will be approved.

During the issue the biggest shareholder of Krajbanka AB Bankas “Snoras” has organized the attraction of additional subordinated capital. On July 14th 2009 Krajbanka concluded the subordinated loan contract with the main shareholder of AB Bankas “Snoras” Vladimir Antonov. The total amount of the subordinated capital comprises 8,6 million EUR (6 044 114 LVL). The capital is granted to Krajbanka for 10 years and will be issued within thirty days after conclusion of the contract. The loan interest rate comprises 9,5% pen annum. In the result of the share issue and attraction of the subordinated loan Krajbanka equity will be increased by 17,2%.

AS “Latvijas Krajbanka” provides different financial services to individuals and legal entities, and it has the widest clients service centre network in Latvia. By the share issue and attraction of the subordinated loan Krajbanka has ensured a stable base for the further development.