OREANDA-NEWS. March 29, 2010. During the extraordinary general shareholders’ meeting held in Kyiv, shareholders of the Public Joint-Stock Company Raiffeisen Bank Aval approved the results of the closed (private) placement of the bank’s ordinary registered shares of the supplementary 25th emission.

Within the framework of the 25th emission, 5,828,400,000 shares were placed at the nominal value of UAH 0.10 each. The placement process was held in two stages, with the first stage lasting from 24 November 2009 to 23 December 2009 and the second stage lasting from 24 December 2009 to 23 January 2010. The selling price of one registered share of the bank was UAH 0.16.

As a result, the charter capital of Raiffeisen Bank Aval JSC after state registration of this emission will be increased by more than UAH 582.8 million to above UAH 3 billion, while the remaining premium of UAH 349.7 million will be directed at formation of the bank’s additional capital. The total increase of the bank’s own capital will amount to over UAH 932.5 million.

Shareholders also made the respective changes and amendments to the bank’s Charter at the meeting.

Raiffeisen Bank Aval JSC, founded in March 1992, is one of the largest Ukrainian banks in terms of a number of core parameters. The bank’s own funds were above UAH 5.3 billion, its net assets amounted to over UAH 54 billion and its loan portfolio totaled more than UAH 48.7 billion (all figures as per 31. December 2009 and according to the Ukrainian accounting standards).

Raiffeisen Bank Aval is a subsidiary of Austria's Raiffeisen International Bank-Holding AG, which operates one of the largest banking networks in CEE, covering 17 markets across the region through subsidiary banks, leasing companies and a range of other financial service providers that service over 15 million customers via more than 3,000 business outlets.