The Board of Directors of Yantar Shipyard on August 30, 2011 approved the additional issue of securities in an amount of 25,140, the shipbuilding firm said.
The ordinary shares in uncertificated form will be offered for private placement at par value of 1 ruble per share.
Kaliningrad-based Baltic Shipyard Yantar was founded on July 8,1945 on the basis of Koenigsberg branch of German’s Schichau Werft. The company specializes in construction and ship repair of warships and civil vessels. Throughout the years the Shipyard has built 154 warships and more than 500 merchant vessels. Currently, Yantar’s major stakeholder is Western Center of Shipbuilding, a subsidiary of state-owned United Shipbuilding Corporation.