foir print

31.10.2005

European press about bank Center-invest

SKRIN (Russia)
Center-Invest Bank issues additional stocks

Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) has become a shareholder of Center-Invest Bank JSC (based in Rostov-on-Don), having bought out some additional stocks of the bank for $14.5mln. According to the company's official documents, the Central Bank of Russia registered results of an additional stock issue, under which DEG holds 20.63% of the bank stocks.

As a result, the Rostovenergo's stake dropped from 6.61% to 4.79%, Servis LLC- from 12.04% to 8.72%, CEO the Board of Directors Vasiliya Vysokov - from 18.37% to 13.3%, a member of the Board of Directors, Tatyana Vysokovoy - from 18.24% to 13.04%.

The Russian Central Bank registered additional issue of Center-Invest JSC on May 28, 2005 (10102225B). The bank issues 14.5mln common stocks with a nominal value of RUR10 . Price of placement is $1.345 for stock. The bank raised $19.5mln, its authorized capital rose from RUR471mln till RUR616mln.

As it was earlier reported, in mid Oct DEG signed an agreement to buy 17.6% (20.6% of voting stocks) of Center-Invest JSC. The remaining additional stocks were bought by EBRD for $4.9mln, it preserved a blocking stake. Before the dilution, the EBRD stake in the Rostov bank was 21.5% of the authorized capital (25.2% of voting sotcks).