OREANDA-NEWS. December 27, 2007. Raiffeisen Bank Aval has increased its capital by UAH 1.5 billion as a result of allocation of shares of the 23rd issue, the bank's press service reported.

According to Tetyana Lashuk, Head of Investors Relations of Raiffeisen Bank Aval, the bank received a registration certificate for this share issue from the State Securities and Exchange Commission last week. It became a final step in the process of placement and registration of the 23rd issue of the bank.s ordinary registered shares in the state registration authorities.

As was reported before, the closed placement of shares of the 23rd issue among shareholders of Raiffeisen Bank Aval had taken place in the period from 3 July till 31 August 2007. For the first time in Ukraine, shares of the commercial bank were placed at a value higher than the nominal one: at the market price of UAH 0.85 per share, which was formed at the moment of the General Shareholders. Meeting taking a decision about the increase in the bank.s capital through a new issue of shares at the nominal value of UAH 0.10 per share.

The amount of the funds gained from the placement of shares of the 23rd emission totaled UAH 1,529,999,427.10 with the increase in the bank's charter capital by UAH 179,999,932.60. The total charter capital after this last issue of shares amounts to UAH 2,279,934,908.00.