Agroprosperis Bank completed the procedure of increasing its charter capital by 31.25% - up to UAH 210 million by means of additional issue of shares. The procedure was carried out within the timeframe set by the NBU and from that moment the size of the authorized capital of PJSC AP BANK exceeds the regulatory standard.
On February 28, 2017 the Agroprosperis Bank's sole shareholder Agro Holdings (Ukraine) Limited decided to increase the charter capital to UAH 210 million. Necessary funds in amount of UAH 50 million were paid into account on May 4, 2017.
The procedure was completed on July 7, 2017, as evidenced by the Stock Issue Registration Certificate issued by the National Securities and Stock Market Commission.
"The funds raised will be used to support liquidity and for lending to agricultural producers," said Serhii Shchepanskyi, the Head of AP Bank Management Board.
To recap, Agro Holdings (Ukraine) Limited, an affiliate company of NCH Capital (USA), on July 17, 2015 signed an agreement to acquire PJSC "Astra Bank" (the new name is PJSC "AP Bank"), which in 2015 was declared insolvent by the National Bank of Ukraine. The deal value was UAH 92 million. The new owner within the 30-day period recapitalized the Bank in the amount of UAH 160 mln. On February 4, 2016 the Bank entered the market under a new brand - Agroprosperis Bank.