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Newsroom / Press Releases Dragon Capital Completes Ukrinbank IPO KYIV, June 13, 2006 – The Kyiv-based investment bank Dragon Capital completed the placement of a 20% stake in Ukrainian commercial bank Ukrinbank among Western portfolio investors, raising USD 36.1 mil. In the first stage of the transaction, the 20% stake was sold to investors for USD 30 mil. After this, Ukrinbank conducted a share capital increase by issuing new shares. Part of the additional capital, USD 6.1 mil., was paid in by the bank’s new foreign shareholders who thus retained their 20% stake in the bank following the capital increase. Subscription for the newly issued Ukrinbank shares was completed last week and approved by the EGM of Ukrinbank on June 9. The National Bank of Ukraine is expected to complete registration of the additional share issuance within 30-45 days, upon which the shares will become tradable. Total portfolio investments in Ukrinbank thus amounted to USD 36.1 mil., putting the bank’s market capitalization at USD 180.5 mil. The issue was more than two times oversubscribed, demonstrating foreign investors’ continued strong interest towards Ukrainian banking assets. About Dragon Capital Dragon Capital was established in April 2000 in Kyiv as an independent investment bank dedicated to helping Western portfolio and strategic investors succeed in the challenging business environment of Ukraine's capital markets. Since then, Dragon Capital has grown into a leading Ukrainian investment house providing the full range of brokerage and corporate finance services to portfolio and strategic investors in Ukraine and the CEE region. Financial magazine Euromoney recognized Dragon Capital as the Best Equities House in Ukraine in 2002, 2004, and 2005. |
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