Urals | Finance, business

Chelyabinsk to continue mortgages despite crisis

22 Oct '08
Chelyabinsk state-run South Urals Corporation for Residential Housing and Mortgage has announced $18.5m worth of plans to issue additional shares, regional officials reported today.

The regions Governor Pyotr Sumin said the intention was to increase the corporation's authorized capital by 23.7% to $78m.

The funds would be spent on refinancing of the Corporation's mortgage commitments to regional banks, which would enable banks to go ahead with granting mortgage loans to residents.
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Tags: authorized capital (72) / mortgage bond (2) / additional issue (18) / South Urals Corporation for Residential Housing and Mortgage (0) / Pyotr Sumin (0) /

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