OREANDA-NEWS. The placement of additional shares of OJSC “GAZ”, which was started on December 15, 2006, is completed.

Shareholders of existing branches of OJSC “GAZ” have actively participated in the placement. So, on results of the placement, the balance of the company will consolidate over 62 % stake in OJSC “Autodiesel”, over 96 % stake of OJSC “Pavlovsk Bus”, more than 92 % stake of OJSC “Tver dredge”, approximately 90 % stake of OJSC “YaZDA” and OJSC ‘YaZTA”, more than 77% stake of OJSC “Bryansk Arsenal”.

At the same time, the share of actually placed securities from 6,2 million shares of the additional issue, which is a subject to the placement, has made 86,91 % (or 5 388 424 shares).

After the registration of results of the placement, the authorized capital of OJSC “GAZ” will make 18 520 260 ordinary and 1 453 500 preferred shares accordingly.

The largest shareholder of OJSC “GAZ” will be OJSC “Russian Machines”, which share in the authorized capital of the company on results of the placement will make 61,05 %.

The management of OJSC “GAZ” and its basic subsidiaries is carried out by the management organization – “Management Company “Group GAZ”, which is fully owned by OJSC “GAZ”.