AVTOVAZBANK (Togliatti) has begun placing R499.924 million in additional shares. Specifically, the bank has issued 999.848m common shares, each with a nominal value of R0.5. Shares are to be placed via closed subscription at R1.0 apiece. After shareholders execute the preemptive right to buy shares commensurate with the number of securities they own (45 days from July 24), additional shares will be placed among IYUL, VOLGAMED and PROMTEXTATE, as well as Yelena Kazymova and Nikolai Taran. The bank has the charter capital of R500 million and is divided into 999.848m ordinary shares and 152,000 preferred shares, each share having a nominal value of R0.5. The charter capital is to increase to R999.924m.
Source: BANKI.RU, July 23, 2007
