OREANDA-NEWS. February 29, 2012. JSC VTB Bank has increased its share in TransCreditBank’s authorized capital to 77.79% from 74.53% following the additional share issue. The issue of 334,373,607 additional uncertified common shares with a nominal value of RUB 1 per share was registered by the Bank of Russia on February 14, 2012. TransCreditBank shareholders had the preemptive right to acquire the quantity of additional shares in proportion to their holdings. VTB Bank acquired 100% of the additionally issued shares.

Following the transaction, the share of JSC “Russian Railways” in the Bank’s authorized capital declined to 21.81% from 25% plus 1 share.

The offering price of the additionally issued shares was RUB 22.69 per share.

Following the transaction, the authorized share capital of TransCreditBank amounts to RUB 2,621,075,719 and consists of 2,620,975,719 common shares with a nominal value of RUB 1 per share and 1,000 preference shares with a nominal value of RUB 100 per share.

Russian Railways and VTB Bank signed a shareholder agreement and sale and purchase agreement for a 54.39% stake in TransCreditBank in July 2011. VTB acquired the 29.39% stake the same month and may purchase the remaining share from Russian Railways from July 1, 2012 to December 31, 2013.