Yapi ve Kredi Bankasi : CMB Approval of Yapı Kredi’s Rights Issue - Start of the Pre-emption Period
June 04, 2018 at 04:28 am EDT
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Yapı ve Kredi Bankası A.Ş. (the 'Bank') announces that on 31 May 2018, the Capital Markets Board (CMB) has approved the Bank's application with regards to the increase in the Bank's issued capital by 4,100,000,000 TL to 8,447,051,284 TL from 4,347,051,284 TL.
All the Bank's shareholders will be able to exercise their pre-emptive rights for 15 days during the rights subscription periodbetween 06 June - 20 June 2018.
Rights to purchase additional new shares will be made at TL 0.01 for each share with a nominal value of TL 0.01 (TL 1.00 for each lot of share having a total nominal value of TL 1.00). Shareholders will be able to participate in the capital increase in the proportion of their participation held in the Bank. Bank's majority shareholder, Koç Financial Services, will fully utilize its right corresponding to its share of %81.8 in the Bank's capital.
Following the end of subscription period, the remaining shares will be sold in the primary market for two working days, with a price set at the primary market which cannot be below the nominal value.
Official completion of the capital increase process is expected by end of June subject to obtainment of all regulatory approvals.
Yapi ve Kredi Bankasi AS published this content on 04 June 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 04 June 2018 08:27:03 UTC
Yapi ve Kredi Bankasi AS (the Bank) is a Turkey-based company that provides banking products and services. It operates through the following segments: Retail Banking, which offers card payment systems, consumer loans, commercial installment loans, small medium size enterprises (SME) loans, time and demand deposits, gold banking, investment accounts, life and non-life insurance products as well as payroll services; Corporate and Commercial Banking, which offers working capital finance, trade finance, project finance, domestic and international non-cash loans such as letters of credit and letters of guarantee, cash management and internet banking, as well as Private Banking and Wealth Management, which serves high net worth customers. The Bankâs operations are supported by domestic subsidiaries in asset management, brokerage, leasing and factoring as well as international banking subsidiaries in the Netherlands, Russia, Malta and Azerbaijan.