Insurance company Euroins Ukraine (Kyiv) will increase its authorized capital to UAH 168.190 million by conducting an additional issue of shares in the amount of UAH 90.250 million.
According to the insurer’s information posted in the NSSMC system, this decision was made by the shareholders at a meeting on February 19.
According to the report, it is planned to place 9.025 billion shares with a nominal value of UAH 0.01, at a placement price of UAH 0.02.
It is also specified that the placement of shares may lead to a change in the owners of a significant stake, an increase in the shareholding of shareholders who already own 5% or more of the shares, namely: JSC Euroins Insurance Group (Bulgaria) – 92.728%, PrJSC European Travel Insurance – 5.745%.
The raised financial resources from the share placement are planned to be used in full to bring the company’s activities in line with the requirements of the Law of Ukraine “On Insurance” regarding solvency and investment activities. Namely, it is planned to place 70% of the funds received in the course of the issue in bank deposits, 20% in government bonds of Ukraine and other securities, and 10% in the centralized insurance reserve funds of the Motor (Transport) Insurance Bureau of Ukraine.
Euroins Ukraine is a universal insurance company that has been operating in the Ukrainian market since 1992. It is a part of the Bulgarian insurance group Euroins, which is one of the largest independent insurance groups operating in Central, Eastern and South-Eastern Europe.
