Alliance Bank JSC (Kazakhstan) to increase authorized capital by 65% by additional offering of common shares

/Alliance Bank JSC, September 27, 05/ - Alliance Bank plans to increase authorized capital till the end of September of this year by KZT9.8 bn. to about KZT25 bn. ($186 m.) by additional offering of common shares. The bank's equity capital after the additional offering will be about KZT27 bn. (about $200 m.), the bank said to Interfax-Kazakhstan on Tuesday. Alliance bank plans to offer additionally about 980 th. common shares at KZT10 th. per share for a total of about KZT9.8 bn.", - the bank said. It's planned to offer these shares mainly among the bank's present shareholders. The bank says the decision to increase the authorized capital toдо KZT28 bn. within 2004-2005 was taken at the general shareholders meeting in September of last year. Share offering is made within announced before issue of 2 m. 800 th. shares. Alliance bank is one of ten biggest banks of the republic. As of July 1 of 2005 the bank's authorized capital was KZT15.1 bn., assets - KZT221.9 bn. ($1.6 bn.), that is 1.9 times more than in year's beginning, liabilities - KZT205.3 bn. ($1.5 bn.) - grew 2 times, shareholders equity - 16.6 bn. ($123 m.). Bank's profit in the first half of 2005 totaled KZT513.5 m. ($3.8 m.). Alliance Bank JSC at presented has ratings: from Moody's Investors Service - "Ва2" ("stable" outlook), NP short-term rating on liabilities in foreign currency and Е+ financial strength rating ("positive" outlook); from Fitch Ratings - "B+" long-term rating, "B" short-term, "D" individual. At present the bank has 12 branches and 45 cash-settlement offices in 15 cities of Kazakhstan. Current rate is 134.11/$1. [2005-09-28]