November 30, 2017 / 8:11 AM / 18 days ago

BRIEF-Bank FC Otkritie reduces share capital to RUB 1

Nov 30 (Reuters) - BANK FC OTKRITIE:

* SAYS DECIDES TO REDUCE ITS SHARE CAPITAL TO 1 ROUBLE

* TO PLACE 208.3 MLN SHARES AND 12.1 MLN PREFERRED SHARES WITH NOMINAL VALUE OF 1/220 421 642 ROUBLES

* THE SHARES WILL BE PLACED THROUGH CONVERSION INTO THE SAME CATEGORY SHARES WITH LOWER NOMINAL VALUE

* REDUCTION OF SHARE CAPITAL IS ONE OF PREREQUISITES UNDER RECAPITALISATION BY BANKING SECTOR CONSOLIDATION FUND

Source text: bit.ly/2i5qAqN

Further company coverage: [<OFCB.MM] (Gdynia Newsroom)

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