Maxim Shkadov, Chief Executive Officer of OJSC PE Kristall, the Russia’s largest polished diamond manufacturer, did not exclude the option of secondary additional issue of Kristall’s shares in mid-term, Prime news agency reported.
According to Shkadov’s statement, carrying out a new share issue would strengthen the company’s position at the global polished diamond market as well as promote increase of profitability and improvement of other performance figures of Kristall.
Shkadov noted positive features and consequences of additional share issue worth a total of RUB 4 billion carried out in 2010. “A recent audit conducted by Audit Chamber confirmed efficiency of these measures,” – he added.
Smolensk-based OJSC PE Kristall is the largest producer of polished diamonds in Russia, it is 100% owned by Rosimuschestvo acting on behalf of the government. OJSC PE Kristall is listed as a strategic enterprise.
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