Baku, Azerbaijan, May 26
By Elena Kosolapova - Trend:
Kazkommertsbank JSC (KKB) has entered into the agreement with Moskommertsbank JSC CB (MKB) to purchase 1,400,000 registered uncertified common shares of MKB at 1,000 rubles per share (65.8 rubles - $1), the press service of the Kazkommertsbank JSC reported May 26.
The above-mentioned transaction did not affect the holding of Kazkommertsbank which remained at 100 percent. As a result of the transaction share capital of Moskommertsbank will amount to 2.84 billion rubles.
"In the short run, we plan to focus on further development of business in Russia," Kenges Rakishev, major shareholder and the chairman of the Board of Directors of the bank, said.
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