Halyk bank of Kazakhstan will issue privileged shares for 25% of capital

/Almaty bureau REUTERS, Jan 29, 02/ - The shareholders of Halyk savings bank of Kazakhstan, one of three largest banks of the country, at extraordinary meeting on Tuesday made decision to increase authorized capital through the issue of privileged shares in the amount of 25 percent of announced authorized capital, informed the bank. Besides, the bank, authorized capital of which is 5.4 billion tenge, plans to issue 5-year bonds I the amount of 2,042,200 units. Price of bonds will be determined during their floatation. Total 18 million privileged shares with par value of 100 tenge will be issued by the bank, which shares all are common voting. The Supervision of Halyk bank during the press conference at the beginning of January said that the bank, authorized capital of which by the end of last year totaled 8.0 billion tenge ($53 million) needs additional capitalization for the amount of approximately 3.5 billion tenge. At the meeting on Tuesday where owners of 97.31% voting shares of the bank the shareholders appointed Kairat Satylganov as the Chairman of the Board and Anvar Saidenov - The Chairman of the Board of directors, the bank informs. Change of Halyk bank supervision took place due to the changes in shareholders staff after the privatization of 33.33% state block of shares. Previous supervision of the bank stopped fulfillment of obligations before the appointed time and since January 4,2002 Satylganov and Saidenov has been performing obligations of the Chairman of the Board and the Chairman of the Board of directors, respectively. Mirbulat Abuov, Murat Amanbaev, Kamilya Arstanbekova, Aidan Karibzhanov, Nurlan Moldakhmetov and Kairat Satyulganov have been elected as the members of a new Board of directors, is said in the press release. State block of shares of Halyk bank, which assets by the end of the year 2001 totaled $860m, were acquired at the auction on November 20 of last year for $41m by the consortium headed by Mangistaumunaigas. Later the consortium made decision to sell 33.33% stake to the group of companies headed by the consultant of Mangistaumunaigas during the purchase of SBS - Almaty merchant bank (AMB). AMB, Agys grain company, and also Dakot, Karat 24 and Tara-Invest firms became new owners of the block.