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Bank of Moscow to raise USD 270mn from additional share issue.

Bank of Moscow to raise USD 270mn from additional share issue. The Bank of Moscow plans to raise up to RUR 7.114bn (USD 270mn) from the placement of its additional share issue, the bank said. 6.9mn shares will be placed via public subscription at the price of RUR 1031 per share. Bank of Moscow, founded in 1995, has 83,000 corporate and 6mn individual clients. The bank has branches in Russia , Baltic countries, Belarus , Ukraine , and a representative office in Germany . In Aug 2006, Bank of Moscow obtained RUR 2.9bn in additional share issue, thus increasing its authorized capital to RUR 12.31bn from RUB 11.75bn. The bank's major shareholder is the Moscow government with 46.465% stake.

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