The 'clawback period' for existing shareholders to subscribe to up to 20% of the
After making some
This last requirement may have been the reason for a disappointing third of shareholders responding to the offer.
Another major investor group, headed by fund manager
However, the whole process has been criticised by the Russian and Ukrainian new shareholders, who were found to control large chunks of the bank after their deposits were converted to equity during the bank's bail-in process last year, while former shareholders, whose stake was diluted to less than 1% after the bail-in, have resorted to legal measures to reinstate their shareholding, or at least increase by at least tenfold.
The upcoming shareholders' EGM on
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