Expo Capital, the co-owner of which is renowned banker Igor Kim, bought into ImoneyBank, gaining a 54.75% stake, ImoneyBank said in a press release.
Expo Capital purchased some of ImoneyBank’s additional shares, and the additional share issue boosted the bank’s capital to Rub 2.5 bln. ImoneyBank plans to bump up its capital in the future by taking new investors onboard, which will cut Expo Capital’s stake below controlling.
“The appearance of a core qualified investor in ImoneyBank’s capital will open new business expansion opportunities. The additional share issue helped us increase the capital adequacy ratio, which will make the bank more reliable," the bank quoted Sergei Vostrikov, the bank’s shareholder and board chairman, as saying.
