AAK Progress $265m shares announced | Volga, Industry, manufacturing MarchmontNews.com

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AAK Progressí $265m shares announced

30 Nov '09
Primorsky-based military aircraft maker AAK Progress in the town of Arsenyev has announced plans to float $265m shares to increase its authorized capital.

Under plans, the firm will issue stock by private subscription to be bought out by its base military-industrial corporation, OPK Oboronprom.

The companyís authorized capital will reportedly increase by 20,000 times as a result of the issuance.

AAK Progress is Primorsky Regionís largest producer of military choppers; it is part of the Russian Helicopters holding.