The bank’s shareholders approved conditions and order of signing of investment memorandum with the foreign investor on placing additional emission of shares of Kapitalbank.

Shares of Kapitalbank will be realized to foreign investor in line with the execution of the presidential resolution “On additional measures on attraction of forging investors in joint stock companies” on 21 December. According to the document, share of foreign investors in joint stock companies should make up at least 15%.

According to the decision of shareholders, the bank will increase its charter capital via issuing of additional convertible preferential stocks.

Within the emission, the bank will issue 15.179 million preferential stocks with par value of 950 soums each. Total volume of the issue will make up 14.42 billion soums. East West Invest acquire all shares of the issue.

The Belgian company will have right to convert preferential stocks to ordinary ones after three years of placement of shares. One convertible preferential stock will be exchange to one ordinary share of the bank.

According to the charter capital of the bank, published on Kapitalbank’s website, the charter capital of the bank makes up 81.7 billion soums, which consists of 86 million ordinary shares with par value of 950 soums each.