OREANDA-NEWS. December 15, 2011. The Federal Agency for State Property Management (Rosimushchestvo), which is exercising powers of the general shareholders meeting of Russian Agricultural Bank (RusAg) passed a resolution to raise the Bank`s authorized capital by RUB 40 billion though an additional issue of shares, reported the press-centre of RusAg.

When the registration of the additional issue of shares and its placement are completed, the authorized capital of RusAg will amount to RUB 148,048 billion.

Funds are allocated to the Bank`s authorized capital for the purposes of lending to agribusiness enterprises, farmers, personal household plots owners and agricultural credit consumer cooperatives.

The RusAg`s authorized capital will be increased through a private placement of the 16th issue of ordinary registered uncertified shares in favor of the Russian Federation represented by Rosimushchestvo. The total volume of the issue is 40 thousand ordinary registered shares at a par value of RUB 1 million each.

The resolution was made in accordance with the decree of the Russian Government dated November 29, 2011 and on the basis of amendments to the Federal Law "On the Federal Budget for 2011 and the Planning Period of 2012-2013" introduced on November 6, 2011.