Kazakhstan-based JSC Tengri Bank increased its authorized capital by 4.09 billion Kazakhstan tenge via the issuance of 3,894,500 new shares with an offering price of 1,050 tenge per share.

Four foreign companies participated in the share offering, which took place between November 2018 and February 2019, the lender said without disclosing the names of the new shareholders.

As of Oct. 1, 2018, Tengri Bank's authorized capital amounted to 22 billion tenge, with Punjab National Bank being the largest shareholder, owning a 44.7% holding in the lender, according to information available on the Kazakhstan Stock Exchange website.

As of March 12, US$1 was equivalent to 377.99 Kazakhstan tenge.