The National Commission on Securities and Stock Market registered issuance of shares of JSC “Piraeus Bank ICB” for a total amount of UAH 500 mio. on November, 12, 2015. The Bank plans to implement a private placement of 50 million of ordinary registered shares with a nominal value of UAH 10 each to existing shareholders of the Bank by the simplified procedure of capitalization in accordance with the Law of Ukraine “On measures to promote the capitalization and restructuring of bank’s”.

The decision to hold the issue of shares was made on the same day by the Extraordinary General Meeting of shareholders to further capitalization of the bank and ensuring its further development in Ukraine.

As Sergei Naumov, chairman of the Board of JSC “Piraeus Bank ICB”, stated that "an increase of the authorized capital will allow the bank to become more reliable for our customers, continue its development in Ukraine, improve technologies of customer service and serves as another proof of the Piraeus Bank Group’s interest in Ukrainian market and confidence in country’s development in general”.

After placing all shares, the documents will be submitted to the National Bank of Ukraine for the subsequent registration of the authorized capital increase, which will amount to about UAH 2.5 billion as a result of the share issue.