00:0023 января 199800:00
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00:0023 января 1998
The Bank of Industry and Construction (PSB) will float a new issue of stock on January 26. If the entire block of stock is successfully placed, 2,000,000 more shares-which is the number of shares PSB already has outstandingwill be offered at 1 ruble a pie
<BR>The Bank of Industry and Construction (PSB) will float a new issue of stock on January 26. If the entire block of stock is successfully placed, 2,000,000 more shares-which is the number of shares PSB already has outstandingwill be offered at 1 ruble a piece (after denomination). The initial share price of the offering, however, has not yet been announced. <BR>Because PSB's stock has enjoyed such high demand among private investors, the bank has set limits on how many shares may be purchased: this time, no more than 5 per individual. During past issues, investors have lined up to obtain the highly-coveted stock, but by far not every person wishing to invest their money in PSB has had the chance to do so. The bidding price for PSB stock on January 14 at the Commercial Trade Center was recorded at 60,000 rubles, while shares were being sold at a starting price of 90,000 rubles. Which direction the stock's secondary market price will move, depends greatly on what price is set for the newly issued shares. At present, PSB's market capitalization is valued at 120 million rubles. As of October 1, 1997, the bank's capital was estimated at 876 billion rubles.
