Stakhanov Wagon Works Announces Additional Share Issue

At their upcoming EGM on March 1, Stakhanov Wagon Works’ (SGVZ: BUY) shareholders will hold an additional share issue for 11.4 mln new shares at the nominal price of USD 0.21. The first stage of subscription is March 1-23, followed by the second stage from March 26-30.  At their AGM on last summer, SGVZ’s shareholders voted to increase the company’s charter fund by USD 2.3 mln to USD 2.6 mln.  Stakhanov Wagon Works is part of KrAZ Holding which includes the truck-maker AvtoKrAZ (KRAZ: BUY).  The company’s sales grew 30% yoy in 2006.