Avtovaz has raised 26 billion rubles through an additional issue of shares

Avtovaz has raised 26 billion rubles through an additional issue of shares

RusAutoNews.Com –  Avtovaz has completed the placement of 2.9 billion shares within the frame of an additional issue, raising 26.141 billion rubles as a result, according to the corporate information disclosure server data of Interfax.

As noted in the accounts of Avtovaz, the share of the actual floated securities is equivalent to 88.52% of the total number of the securities of the additional issue. The cost of one security amounted to 9 rubles.

The shareholders of Avtovaz have given approval for the implementation of an additional issue of 3281 billion shares at a par value of 5 rubles in October 2016. The representative of Avtovaz Board of Directors Sergei Skvortsov has emphasised the critical importance of the decision for the immediate and the long-term development of the company.