On April, 27 Baltiysky Zavod will start distributing its promissory notes
06.05.2004 16:00

The first lot of the ordinary discount notes will amount to RUB500m, according to the General Director of BZ Oleg Shulyakovsky. The notes shall be issued for 3, 6 and 9 months. Under this project BZ plans to distribute totally RUB1.5b in promissory notes. NOMOS Bank is to act as the organizer and of the project. The aim is to attract the means for reconstructing and technical upgrading of the assembly-welding line of BZ within the frameworks of the comprehensive program of upgrading the technology. The means raised shall be spent on project study works, preparing the site, purchasing new equipment etc. The authorized capital of BZ as of Jan, 1, 2004 is 264,440,000RUB and divided into 1,100,000 ordinary shares with the nominal value of RUB240,40 each. IST Group controls 70% of BZ, the state owns the “golden share”.

News source: Lenizdat.ru
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