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CORRECTED-Credit Bank of Moscow in additional share issue worth at least 3.2 bln roubles
October 11, 2017 / 9:26 AM / 2 months ago

CORRECTED-Credit Bank of Moscow in additional share issue worth at least 3.2 bln roubles

(Corrects OCT 9 story to clarify sale is for 3.2 billion shares with nominal value of one rouble each)

MOSCOW, Oct 9 (Reuters) - Russia’s Credit Bank of Moscow has told shareholders they have the preferential right to buy additional shares worth at least 3.2 billion roubles ($54.84 million), the bank said on Monday.

Shareholders can apply for the extra shares from Oct. 10-19, and the bank said in an emailed statement it did not rule out holding a second public offering “in the medium-term.”

The bank said it will offer 3.2 billion shares, setting a nominal price of one rouble per share. It said the placing price could not be below the nominal price.

Russia’s banking sector is under scrutiny after two major private lenders, Otkritie Bank and B&N Bank, had to be rescued by the central bank in the space of a month.

Vladimir Chubar, the chairman of Credit Bank of Moscow, said last month his bank was working to address any risk to liquidity from a potential outflow of deposits. Credit Bank of Moscow is Russia’s ninth biggest bank by assets.

A year ago, the bank said that it decided to raise its share capital by 3.2 billion roubles by issuing extra shares. .

$1 = 58.4050 roubles Reporting by Kira Zavyalova and Elena Fabrichnaya; Writing by Polina Nikolskaya; Editing by Andrew Osborn

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