ROSTOV-ON-DON. Jan 22 (Interfax-AVN) - Russian Open Joint-Stock Company (OJSC) "OPK Oboronprom" has bought out 299,533,806 additional ordinary shares in OJSC "Rostvertol" (Rostov-on-Don), or 99.84% of its additional issue, Rostvertol said in a statement.
The additional issue is worth 300 million rubles, a share's par value is one ruble, and the price of allocation is 2.73 rubles. Thus, the total deal was worth 817,727,290 rubles.
The additional issue was allocated upon private subscription. The allocation start date: August 12, 2013. The allocation is due to close on January 17, 2014, upon receipt by Rostvertol of a letter from Oboronprom - the only person among potential share buyers upon private subscription - about its refusal to acquire the remainder of the allocated securities.
The funds raised during the additional issue will be used to develop the company's production and boost its materiel and technical base, the Rostov-based company told Interfax. A report on the results of the additional stock allocation is due to be registered with the Bank of Russia's Service for Financial Markets inter-regional directorate in the Southern Federal District in March.
It was reported earlier that at their annual meeting on June 1, 2013 Rostvertol shareholders decided to increase the authorized capital through allocation of an additional stock on private subscription in Oboronprom's favor.
Currently, the company has the authorized capital of 2.3 billion rubles which is divided into ordinary shares with a par value of one ruble each. The main shareholder is Russian Helicopters (Vertolety Rossii) (an Oboronprom subsidiary), which owns 92.01%.
Rostvertol is one of Russia's biggest helicopter manufacturers, which makes Mil-24/35 military transport helicopters, the Mi-26T heavy transport helicopter and the Mi-28N new-generation attack helicopter.