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Dzerzhinsk organic glass producer to double charter capital

Dzerzhinsk Orgsteklo (DOS) of the Nizhny Novgorod region, Russia“s only organic glass and dacryl producer, plans to more than double its charter capital to RUB 510 million through placing additional …

Dzerzhinsk Orgsteklo (DOS) of the Nizhny Novgorod region, Russia“s only organic glass and dacryl producer, plans to more than double its charter capital to RUB 510 million through placing additional 1-ruble shares totalling RUB 260 million. The company is to submit a new issue prospectus to the Russian Federal Securities Commission for registration in August. It is planned to place the shares in a public subscription among outside investors. The money raised will allow the company to stop borrowing money from banks to overhaul its production facilities. Dzerzhinsk Orgsteklo was set up in March 2001, as part of court trusteeship at Dzerzhinsk-based Orgsteklo. Orgsteklo“s basic production facilities were transferred to DOS. The company has charter capital of RUB 250 million, split into 1-ruble shares. Orgsteklo owns all the shares.

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