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AVELLUM Advises Shareholder of PJSC “Commercial Bank “Center” on Increasing Its Charter Capita

February 2018

AVELLUM Advises Shareholder of PJSC “Commercial Bank “Center” on Increasing Its Charter Capital

AVELLUM advised Public Joint Stock Company “Commercial Bank “Center” (“PJSC CB “Center”), a regional Ukrainian bank, and its sole shareholder Mr. Hamed Alikhani on increasing the charter capital of PJSC CB “Center” to UAH200 million. AVELLUM advised the clients on a number of corporate, regulatory, and securities issues related to increasing the charter capital, and on further acquisition of new shares in PJSC CB “Center”.

AVELLUM prepared all the documents for the issuance of new shares by PJSC CB “Center” and the acquisition of such shares by Mr. Hamed Alikhani. Moreover, we advised on obtaining the necessary approvals from the National Bank of Ukraine (“NBU”) and the National Securities and Stock Market Commission.

PJSC CB “Center” performed additional capitalisation to comply with the capital requirements of the NBU. According to such requirements, Ukrainian banks must have a minimum charter capital of UAH200 million by 11 July 2017.

In 2016, AVELLUM acted as the Ukrainian legal advisor to Mr. Hamed Alikhani on obtaining the approval of the NBU for the acquisition of the qualifying shareholding in PJSC CB “Center”.

We have also advised Mr. Hamed Alikhani on obtaining a merger control clearance of the Antimonopoly Committee of Ukraine for the acquisition of PJSC CB “Center”.

AVELLUM team working on this project was led by the managing partner Mykola Stetsenko, with support from senior associate Andriy Romanchuk and associates Dmytro Tkachuk, Andrii Gumenchuk, and Anton Arkhypov.

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