PRESS: Russia’s IFC Bank plans 5 bln rbl additional share offering

MOSCOW, Sep 27 (PRIME) -- Russian bank International Financial Club (IFC Bank) co-owned by tycoon Mikhail Prokhorov is preparing a 5 billion ruble additional share offering, Kommersant business daily reported Tuesday.

The new shares are expected to be issued by the end of the year.

The shareholders have already supported the bank, having bought 7 billion rubles of troubled loans in early September, the daily said.

The central bank earlier uncovered over 10 billion rubles of troubled loans at the bank.

(64.1506 rubles – U.S. $1)

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