JSC "Concern PVO" Almaz-Antey "plans to hold in August 2011, an additional issue of its shares. Necessary for a decision to increase the authorized capital of Concern documents submitted to the Federal Agency for State Property Management (Agency) that implements on behalf of the Russian Federation of the right of its sole shareholder.
In 2010, the implementation of these projects from the federal budget provision has been made to increase the authorized capital of Concern PVO "Almaz-Antey" in the amount of 4.5 billion rubles in exchange for the transfer of federal property in newly issued common stock in the amount of funds provided.
The implementation of projects to create new businesses based on the production capacity of subsidiaries and affiliates of Concern in Nizhny Novgorod and Kirov is in accordance with the approved plans. Construction is scheduled for completion in 2015.
In addition to the budget Concern PVO aims at the creation of new production credit funds raised under the state guarantee.