MOSCOW, August 30 (RIA Novosti) - Promsvyazbank, a leading Russian commercial bank, has decided to augment its authorized capital by 34.6%, to 5.12 bln rubles ($190 mln), through an additional share issue, the bank said Wednesday.
The decision was made at an emergency meeting of the bank's shareholders.
A total of 26,032 ordinary bearer shares, with a face of value of 50,000 rubles ($1,800) each, will be placed through a closed subscription.
Commerzbank AG (Germany) is to acquire a 15.3% stake in the bank.
Promsvyazbank is one of Russia's top 30 banks by assets (valued at $4.8 bln as of July 1, 2006), with equity capital of 13.8 bln rubles ($511 mln).
