An extraordinary meeting of shareholders of State Mortgage Company OJSC was held in Bishkek, where a decision was made to increase the authorized capital by 50 billion soms. The Kyrgyz Stock Exchange (KSE) reported.
The shareholders unanimously supported the decision.
According to the KSE, these funds will be used to increase the number of shares in circulation through registration and placement of a new issue. As part of the additional issue, 500,000 ordinary registered shares with a par value of 100,000 soms each will be issued.
The share placement will take place in a closed process in favor of the Presidential Affairs Department, which is the sole shareholder.
It was previously reported that the Cabinet of Ministers will allocate 35 billion soms to increase the authorized capital of State Mortgage Company. These funds will be used to finance the state program «Menin Uyum» (My Home).
