Baku, Azerbaijan, Nov. 28
By Elena Kosolapova - Trend: Development Bank of Kazakhstan will attract loans and increase the bank's share capital, Kazakhstan Stock Exchange (KASE) reported with the reference to the bank.
The bank informed the Stock Exchange about such decision of the Board of Directors with an official letter.
The Board of Directors decided to increase the bank's liabilities by ten and more percent of its equity through attracting a 50 billion tenge (180.87 tenge = $1) loan from Kazakh National Management Holding Baiterek.
Moreover the Bank's share capital will be increased through offering 5,000 ordinary shares within the total amount of the authorized shares of the Development Bank of Kazakhstan.
The price per one ordinary share was fixed at five million tenge. The total amount of offering will cost twenty five billion tenge.
Development Bank of Kazakhstan (subsidiary of The National Management Holding Baiterek) was founded in 2001. Its mission consists in promoting sustainable development of the national economy through investments to non-energy sector of the country.
The banks activity is aimed at improving and raising efficiency of public investment activity, developing of industrial infrastructure and processing industry, facilitating in raising external and internal investments to the economy of the country.
Edited by C.N.
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