OREANDA-NEWS. January 20, 2010. Universalna Insurance Company intends to increase its charter fund by 48.3% or UAH 55.5mn to UAH 170.3mn. The final decision is to be approved at SKUN EGM on 1 March 2010. Meanwhile, as expected, the shares will be placed at par of UAH 1 from 22 April to 14 May 2010.

Millennium Capital sees the news as a positive factor for SKUN development. Since a large number of insurance companies are currently close to bankruptcy because of insufficient liquidity, the increase of SKUN capital will enable it to continue its regular operations as before. Millennium Capital expects that the shares will be placed at par, anticipating a 75% discount in the current SKUN share price.