VTB will increase its authorized capital by 302 billion rubles through an additional issue

VTB will increase its authorized capital by 302 billion rubles. by issuing additional ordinary shares by closed subscription. The bank plans to place 30 trillion ordinary shares. The corresponding decision was made at an extraordinary meeting of VTB shareholders. TASS and RIA Novosti with reference to the press service of the bank.

VTB is going to place an additional issue to the Federal Property Management Agency and the Ministry of Finance. The nominal price of one share will be 0.01 rubles, the cost of placement of ordinary shares will be determined by the Supervisory Board no later than the start date of the placement.

The form of payment for the placed shares is rubles. The bank will also accept shares of the Crimean RNCB and claims under an agreement on the placement of funds from the National Welfare Fund (NWF).

In October 2022, Russian President Vladimir Putin signed a law allowing the government to contribute 100% of the shares of the Russian National Commercial Bank (RNCB) to the authorized capital of VTB. According to the government’s order, this must be done within five months. The head of VTB Andrey Kostin said that RNKB should enter the VTB group in the first quarter of 2023.

Olesya Pavlenko