Avtovaz may place 9.25 billion ordinary shares at 10.3 rubles by private subscription - a total of 95.3 billion rubles, as reported on Friday by the company. “The target audience” is Alliance Rostec Auto B.V. (the Netherlands joint venture of Rostekha and Renault-Nissan alliance), which owns 64.6% of AvtoVAZ’s capital.” The parameters of the additional issue offered by AvtoVAZ’s Board of Directors will be approved at the extraordinary general meeting on March 15.
Company's website: www.renault.com
T: +33 176840404
Public company (EURONEXT: RNO)
Contact: Mr Carlos Ghosn, Chairman and Chief Executive Officer
Renault SA manufactures a range of small to mid-size cars and light commercial vehicles. The French government has about a 15 per cent stake in Renault.