Cyprus-registered limited liability company Evison Holdings Limited is going to buy an entire issue of registered non-documentary shares of Orient Express Bank with par value of Rub 3 bln (State Registration Number 10201460B007D dated November 20, 2015) that will be placed based on a decision adopted at an extraordinary meeting of the bank's shareholders on October 2, 2015. The bank's board of directors recommended that the shareholders should approve the relevant related party transaction at a May 25 extraordinary shareholders meeting, the issuer's materials say.
The shares will be floated via open subscription. The bank's management board chairman Alexey Kordichev said in April that "several investors, including the majority shareholder, have shown interest in Orient Express Bank. The bank expects to draw additional capital as part of the additional share issue. The bank's chief executive did not rule out that "several investors will buy stakes in the capital of Orient Express Bank".
The issuer's materials run that 300 bln of the additional share issue will be floated at par (1 kopeck per share).
Presently, the bank's charter capital is higher than Rub 3,421.5 mln, and equity stood at Rub 25.07 bln as of April 1, 2016.
Evison Holdings Limited, which is controlled by a group of Baring Vostok funds, presently controls around 63.78% of Orient Express Bank.