26 February 2004 09:38
KALINA APPROVES SHARE PLACEMENT PRICE
YEKATERINBURG. Feb 26 (Interfax) - Russian cosmetics concern OAO Kalina is to place an additional issue of 1.6387
million common shares with a par value of 70 rubles each by open subscription, where current shareholders have priority
rights, at 525 rubles per share, which is 650% over par value.
The company said that the placement price for the shares in the additional issue was approved by the board of
directors at a meeting on Wednesday. The board will set a placement date later.
In December the board annulled the placement price agreed by it on October 22, 2003 of 600 rubles per share - 757%
over par value.
The decision to change the price and postpone the placement was due to the fact that company specialists considered
conditions on the market to be unfavorable.
The decision to change the price and postpone the placement was due to the fact that company specialists considered
market conditions to be unfavorable.
The cosmetics company has its head office in Yekaterinburg, a
detergent plant in Omsk and the subsidiaries Pallada Vostok
The Russian Federal Securities Commission registered the additional issue and the prospectus for the issue on October
21, 2003.
At a meeting on September 23 the Kalina board of directors decided to increase the company's charter 16.6% to
682.662 million rubles.
The company's charter capital amounts to 585,543,560 million rubles in 8.365 million shares with a par value of
70 rubles. The company's main shareholders are its General Director Timur Goryaev - 66.04%, and the European Bank
for Reconstruction and Development - 19.23%.
(Uzbekistan), Torzhok (Ukraine), Pallada-Ukraina, OOO Novoplast (Yekaterinburg), OAO Lola Atir Upa (Uzbekistan),
Kalina Overseas Holding B.V. (Holland) and Kosmetik und Rasierwaren Solingen GmbH (Germany).
[Interfax] |
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