OREANDA-NEWS. March 26, 2010. BANK URALSIB (OJSC “URALSIB” or the Bank) (RTS: USBN) is pleased to announce that the Supervisory Board decided to increase the authorized capital of the Bank by 2.7 bln rubles through the placement of additional ordinary non-documentary shares of the Bank.

On March 22, 2010, Supervisory Board of the Bank decided to place 27.5 bln ordinary shares. The nominal value of each share is 0.1 ruble. Placement of OJSC “URALSIB” additional share issue will be executed through the conversion of OJSC "Stroyvestbank" and OJSC “URALSIB-YUG BANK” shares to OJSC “URALSIB” shares. As a result the authorized capital of the Bank will be increased by 10.4% (by 2.7 bln rubles) to 29.3 bln rubles.

The part  of OJSC “URALSIB-YUG BANK” retained earnings will be used to cover the difference of 2.0 bln rubles, stemming from the conversion of OJSC “URALSIB-YUG BANK” shares into OJSC “URALSIB” shares, and, correspondingly, to increase OJSC “URALSIB” authorized capital.