JSPPB “Aval’s” Share Capital has increased to UAH 500 million — Finance.ua
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JSPPB “Aval’s” Share Capital has increased to UAH 500 million

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JSPPB “Aval’s” Share Capital has increased from UAH 341.5 million to UAH 500 million as a result of the 18th issue of the Bank’s shares.
The Bank’s press service announced information to this effect, based on information provided by the First Deputy Chairman of the Board, Ivan Voloshko.
He stated that according to subscription figures for the 18th issue of shares, which was conducted on 8 – 25 December 2002 for a total of UAH 158.5 million was approved by the General Meeting of JSPPB “Aval shareholders, which took place on 27 November 2002 in Rivne. Changes to the Share Capital were registered by the National Bank of Ukraine on 23 December.
I Voloshko stated that as a result of subscriptions for shares, shareholders now include a range of Ukrainian insurance companies, including “Etalon” Insurance Company PC., “Skaid West” Insurance Company Plc. and “Ukrinmedstrakh” PC.
The banker noted that the increase in Share Capital offers the Bank to increase its financial stability and to guarantee its further development. The Bank plans to use the funds received from this issue for the granting of loans of companies to the agricultural sector, food processing, ship-building, metallurgical and chemical industries, as well as for the further expansion of the Bank’s network.
Next year, the Bank is planning to increase its Share Capital to UAH 650 million.
At present, JSPPB “Aval’s” shares are owned by 132,000 private individuals and companies. “Ukrtelecom” is the largest shareholder.
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