Azot Cherkasy Doubles Charter.
10 November 2008
At its AGM yesterday, Azot Cherkasy (AZOT) decided to increase its charter fund by USD 198 mln to USD 363.7 mln. The company will issue 117.647 mln ordinary shares at USD 1.7 par. The subscription will be conducted from December 12 2005, to January 12 2006. Concorde Capital: Ukrsibbank presently controls ~75% of Azot Cherkasy. The additional issue may allow it to further increase its stake in the company due to the dilution of employee shareholders who are not likely to subscribe. Two previous increases in the company?s charter fund for USD 79.3 mln in total were registered last year.
