The Federal Agency for State Property Management intends to effect the additional capitalization of Russian Agricultural Bank for 25 billion rubles. According to Interfax, the bank will place 25,000 additional ordinary shares with a par value of 1 million rubles.
The authorized capital of RusAg after the additional issue will increase by 7.4% and amount to 364.85 billion rubles ($ 6.17 billion). Interfax notes that the funds for capitalization are taken into account in the budget for the current year and the planning period of 2018-2019.
The Russian Federation annually invests in the RusAg capital, which allows developing lending to the agricultural sector. So, by the end of 2015, the RusAg received a capitalization of 10 billion rubles ($ 169.16 million) from budgetary funds, while another 68.8 billion ($ 1.16 billion) was received in the form of federal loan bonds.
In 2016, the bank was capitalized by 8 billion rubles ($ 135.27 million). In the current year, an additional issue of 5 billion rubles ($ 84,55 million) was made.
Source: Sphere Publishing House.
