Sberbank To Start Issuing Additional Shares Today

Sberbank, the Russian savings bank, will start issuing additional shares for 249.9m rubles ($8.66m) today. A corresponding decision was registered on March 26. Additional shares with the registration number 10101481B will be issued in the amount of 4.998 million. Shares with a par value of 50 rubles ($1.7) will be placed for 1,000 rubles ($34.66) by open subscription until May 21, 2001. As of the date of the issue's registration, the charter capital of Sberbank amounted to 750.1m rubles ($26m).