Russia’s AVTOVAZBANK (Togliatti) has increased the charter capital by issuing additional shares. The bank has issued 999.848 million common shares, each having a nominal value of R0.5 per share. The bank issued R499.924m in shares at par. Shares will be placed via closed subscription. The bank has already determined those subscribed. Shares will be placed at R1.0 apiece. The charter capital will thus be increased by 99% to R999.924m. The equity capital will rose by nearly R1.0b to R2.4b.
Source: KLERK.RU, July 9, 2007
