In accordance with the decision, the bank will increase its charter capital by 14.3% to 13.2 billion rubles (about $518 million) by placing 1.65 billion newly-issued ordinary shares with a par value of 1 ruble each, the bank said in a statement.
The price of the new share offering in rubles and foreign currency will be set by the bank's board of directors after shareholders exercise their pre-emptive rights, the statement said.
Experts earlier said Zenit Bank planned to hold an initial public offering soon, but bank officials have not yet commented on whether the newly-issued shares would be placed on a stock exchange.
Founded in 1994, Zenit Bank had assets of 101.3 billion rubles (about $3.98 billion) and shareholder equity of 11.2 billion rubles (about $439 million) as of April 1.
