OREANDA-NEWS. December 7, 2009. The Bank of Moscow is looking to raise another RUB 22 bn in its equity. The Bank of Moscow, which is controlled by the Moscow government and ranks among the Top-10 largest Russian banks, is set to raise another RUB 21.7 bn into its capital via an additional share issue placed via public offering, the bank said. The bank is preparing an additional issue of 21.63 mn shares with RUB 100 par value.

The placement price will be RUB 1,003 per share. In summer 2009, the bank already added RUB 20 bn to its equity, with most of additional shares bought out by the bank’s major shareholders, including the Moscow government and companies assigned to Stolichnaya Insurance Group associated with the Moscow government. After this additional stock offering the bank managed to raise a subordinated credit from Vnesheconombank for RUB 11.1 bn.