BA-CA Joins Megabanks Shareholding Structure

5. Oktober 2006, 00:00

Ukraines financial supervision authority has greenlighted Bank Austria Creditanstalts purchase of a...

Ukraines financial supervision authority has greenlighted Bank Austria Creditanstalts purchase of a 12.8-per-cent stake in Kharkiv-based Megabank, the Ukrainian bank said in a press release Wednesday.

The release adds that Megabank is now granted the status of a financial institution with foreign capital.

In the end of March this year, Megabank exercised a capital hike. The transaction, raising the number of shares by 20 per cent or USD 19 million, was sold out to a number of foreign investors from Switzerland, Germany, Russia and a Ukrainian investment bank. The deal was lead managed by Kiev-based Concorde Capital.

A subsequent raise, performed in June this year, nearly doubled the banks statutory capital. Thus as of September 1, the capital stood at UAH 115 million.

Megabank has been on the banking market for 16 years now and ranks 42nd among Ukraines 160 banks.

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