Chelyabinvestbank to boost capital to $29.3m | Urals, Finance, business MarchmontNews.com

Urals | Finance, business

Chelyabinvestbank to boost capital to $29.3m

4 May '09
Chelyabinsk bank Chelyabinvestbank has announced plans for an $8.4m follow-up share issuance to increase its capital to $29.3m.

Shares are to be issued by private subscription, the bank said today.

The bank’s authorized capital is reportedly expected to increase by 40% as a result of the issuance.

Earlier Marchmont wrote about the bank's $6m private placement (see news of November 3, 2008).