OREANDA-NEWS. On 09 July 2009 was announced, that in the end of last week Oranta National Joint-Stock Insurance Company summed up the results of the first stage of subscription for the company's securities of the eights additional emission, which lasted 15 calendar days to July 30, 2009, inclusive.

According to the legislature, only Oranta's existing shareholders could buy shares at the first stage of subscription. Thus, the first stage resulted in selling 7,500,910 shares or 7.3% of the shares of the company’s additional emission to the amount of UAH 43,880,323.5.

As it was stated earlier, the company’s existing shareholders and general public who are not Oranta's shareholders are entitled to buy the company's shares at the first stage of emission.As of July 6, the company's shareholders and investors requested to buy 102,104,037 shares to the amount of UAH 597,308,616.45, which makes up 99.53% of the planned volume of emission.

According to the requests received, 89,104,037 sale contracts were concluded to the amount of UAH 521, 258, 616.45 or 86.86 % of the planned volume of emission. According to the terms of the contract, investors are to transfer the money for the company's securities to Oranta’s account within 30 days after signing the contract.

Like Mr. Oleg Spilka, Chair of Supervisory Board, predicted, due to a high demand for the company’s securities, the subscription will most likely be closed by the middle of September if all the money for the shares is received. It needs to be mentioned that according to the decision of the shareholders' meeting, the second stage of Oranta's stock flotation was to take 350 calendar days and was to last to June 15, 2010, inclusive.

As a reminder, on July 1, BTA-Bank (Kazakhstan) subscribed for Oranta’s 36,079, 759 nominal shares to the amount of UAH 211,066,590.15, which makes up 35.17% of the shares issued as a part of the insurer’s eighth additional emission.“This speaks for the investor's constant interest to its assets as a profitable investment, as well as for the bank's responsibility as a large investor, " says Mr. Oleg Spilka, Chair of Oranta's Supervisory Board.