New Horizons for Kyivmiskbud: Preparing for Recapitalization
Kyivmiskbud has officially begun preparations for recapitalization, anticipating financial aid from the government and participation from minority shareholders.
This was announced by Vladislav Andronov, Deputy Head of the Kyiv City State Administration, during a meeting with investors, as reported by Interfax-Ukraine.
Andronov reminded that on February 14, shareholders' meetings are scheduled to discuss aligning the company's charter and internal regulations with current legislation, as well as creating conditions for additional share issuance.
According to Andronov, after amendments to the charter and regulations of the supervisory board, the issue of additional share issuance may be resolved at the next meeting.
"The city budget contains a provision that if the shareholders of Kyivmiskbud decide on recapitalization, approximately 2.6 billion UAH will be allocated. Regarding minority shareholders (who own 20% of KMB), the city is interested in their participation in the recapitalization," Andronov said.
The main hope of investors for launching Kyivmiskbud projects lies in the resources of the city budget.
Andronov added that after all procedures are completed, the Kyiv City Council plans to allocate the funds earmarked in the budget to the company throughout 2025.
The phases of project restoration and their completion timelines will be determined directly by Kyivmiskbud, considering financial capabilities and project readiness for construction.
Reminder:
The Kyiv authorities, along with a group of investors for unfinished projects of Ukrbud and Kyivmiskbud, plan to sign a memorandum and approve a roadmap to complete the construction of residential buildings soon.
After that, the Kyiv City Council approved the increase of the authorized capital of PJSC Kyivmiskbud through additional share issuance and repurchase of shares for no more than 2.56 billion UAH.
