Universalna Insurance (SKUN) approved a 28.08mn (US$ 3.5mn) capital increase, Interfax reported, citing a shareholder decision at a March 1 AGM. The company will sell 11.7mn new common shares (10.2% of the current number of shares outstanding) at UAH 2.4/share, or above its par value of UAH 1.0 (US$ 1.25)/share as well as yesterday’s PFTS-listed SKUN bid/ask range of UAH 0.75/2.25 (US$ 0.09/0.28). Subscription is scheduled for April 22–May 7 (first stage) and May 10-14 (second stage). The EGM decision differs from the previously announced plans to raise UAH 55.5mn (US$ 6.9mn) in new equity via the sale of 55.5mn new shares at par. The company said it will use proceeds to finance expansion.