OREANDA-NEWS. On October 28, 2008 Kazkommertsbank, Kazakhstan’s largest bank by total assets announced that it has completed the purchase of newly issued common shares of JSC Kazkommertsbank Kyrgyzstan, in line with its preemptive rights, reported the press-centre of Kazkommertsbank. 

On March 31, 2008, the General shareholders meeting of JSC Kazkommertsbank Kyrgyzstan decided to increase the chartered capital of the Bank by issuing 41,000 new common shares. The share placement price (according to independent valuation) was KGS 1,352 per share. On September 18, 2008, the Kyrgyz Financial Market Supervision and Regulation Service registered the new share issue.

As a result of the new issue, the chartered capital of JSC Kazkommertsbank Kyrgyzstan increased by KGS 55,432,000 (USD 1,450,715.91).

On July 22, 2009, the Board of Directors of Kazkommertsbank decided to purchase 38,368 common shares from the new issue in line with its preemptive rights in line with its strategy of consolidating its subsidiaries. On October 24, 2008, Kazkommertsbank executed a payment of KGS 51,873,536 to purchase the common shares from the new issue.

The holding of Kazkommertsbank remains unchanged at 93.58% of the total chartered capital of JSC Kazkommertsbank Kyrgyzstan.