SSEC Registers 4.5 Times Increase of LUAZ's Statutory Fund

The State Securities and Exchange Commission (SSEC) registered the statutory fund increase to USD 164.8 mln by the Lutsk Automotive Plant (LUAZ), which is part of the Bogdan Corporation. The attracted USD 128.3 mln will be spent on CapEx financing. In December 2005, LUAZ’s shareholders voted to increase the statutory fund through an additional issue of shares. Olha Pankiv: The attracted funds will be spent to finance a program, already started by Bogdan, which will increase bus production at LUAZ, and move automobile production to its other company, Cherkasy Bus.