ZAZ Plans to Increase Share Capital to USD 164 mln
9 July 2008
The Zaporizhya Automobile Plant announced plans to increase its share capital by 36.4% to USD 164 mln. The company will conduct a placement of 245,082 shares at par (USD 178 per share). Subscription will take place in two stages, beginning on July 23 and ending August 18. Financing will go toward acquiring new assembly sets. UkrAvto (AVTO), Ukraine’s largest automotive holding owns 80% of AvtoZAZ, which in turn controls 50% of ZAZ.
