The State Development Bank will increase its capital using a plot of land valued at 266 million KGS

The sole shareholder of the State Development Bank of Kyrgyzstan, represented by the Cabinet of Ministers, has decided to increase the bank’s authorised capital by 266.15 million KGS through the contribution of a plot of land to the capital.

Under the decision, a plot of land measuring 1.5 hectares will be contributed to the bank’s capital; its estimated value corresponds to the planned capital increase.

To formalise the capital increase, the bank will issue an additional 266,150 ordinary registered shares with a par value of 1,000 KGS each.

Once the procedure is complete, the State Development Bank’s authorised capital will increase to 23.68 billion KGS.

The shareholder also approved a new version of the bank’s articles of association to reflect the capital increase and instructed that the financial institution be re-registered with the justice authorities.