OREANDA-NEWS. February 07, 2014. B&N Bank’s Board of Directors approved the additional share issue in favor of the company owned by Mikhail Gutseriev.

The Bank’s capital will be increased by way of placing additional ordinary shares by private subscription in favor of Hanberg Finance Limited owned by the founder of B&N Bank Mikhail Gutseriev. 

Total number of ordinary shares to be placed - 9 626 956, type of issue – book-entry form, nominal value – RUB 200 per share (offering price is fixed at RUB 415.50).  Payments for the shares from investors shall be denominated in the currency of the Russian Federation.  

As a result of the additional issue, B&N Bank’s share capital will increase by RUB 1.9 billion to RUB 9.3 billion and its total capital will grow by RUB 4 billion to RUB 29 billion.

After the additional share issue B&N Bank’s President Mikail Shishkhanov will hold about 77.7% of the Bank’s shares and Mikhail Gutseriev – about 20.6%. 

Mikhail Gutseriev decided to acquire a share in B&N Bank’s capital back in 2013. This additional share issue is the first initiative of his commitment. Any specific plans for further increase of investments from Mikhail Gutseriev for 2014-2015 will be approved in the near future.