Kazkommertsbank signs agreement with subsidiary bank CB Moskommertsbank to purchase 1,400,000 registered uncertified common shares
26.05.16 17:57
/KASE, May 26, 2016/ – Kazkommertsbank (Almaty), whose securities are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press release:
quote
JSC Kazkommertsbank (further the “Bank”, “KKB”) has entered into the
agreement with JSC CB "Moskommertsbank" (further “MKB”) to purchase
1,400,000 registered uncertified common shares of MKB at RUB 1,000 per
share.
Kenges Rakishev, major shareholder and the Chairman of the Board of Directors
of the Bank, commented: "Kazakhstan and Russia are historically having close
trade and economic ties which developed further post formation of the EEU.
Kazkommertsbank, as a systemic financial institution of Kazakhstan, clearly
understands the importance of strengthening the economic cooperation between
two countries further and has been supportive to this ongoing process. This
understanding was one of the drivers to support Moskommertsbank via capital
injection. In the short run, we plan to focus on further development of business
in Russia. I have personally chaired the Board of Directors of Moskommertsbank
to have a hands-on approach in taking strategically important decisions".
The above-mentioned transaction did not affect the holding of Kazkommertsbank
which remained at 100%. As a result of the transaction share capital of
Moskommertsbank shall amount to RUB 2,843,600,000.
Enquiries:
Askhat Akhmetov, Financial Instituions
Tel.: +7 (727) 258-51-25, ext. 56420, E-mail: investor_relations@kkb.kz
Larissa Kokovinets, Public Relations Department Director
+7 (727) 258-54-56, E-mail: pr@kkb.
unquote
[2016-05-26]