Amtel-Vredestein to Extend Stock Offering

(Akron/Tire Review) Amtel-Vredestein plans to double its authorised capital up to 5.45 billion rubles via an additional stock issue. Shareholders approved the offering last month in Moscow, in an move expected by many industry watchers. It had been rumoured that Amtel-Vredestein would hold an initial public offering for the new company, a subsidiary of Amtel Holdings Holland BV. The new issue will comprise three million ordinary shares at par value of 1,000 rubles.