The Central Bank of Russia has registered a report about an additional issue of 4.76% of BANK OF MOSCOW shares. A total of 5.6 million shares have been placed for R2.9 billion. The current bank shareholders took advantage of their priority right and bought over 750,000 shares, or 13.51% of the additional share issue. The American JP MORGAN investment bank reported that it had acquired 2.72m shares (2.2% of the capital) for R1.413b. «It was a financial investment of non-strategic importance," commented JP MORGAN. The Moscow government, which holds a 59.95% stake in BANK OF MOSCOW, has remained the main shareholder.
Source: VEDOMOSTI, August 22, 2006
