Gazprombank increases its stake in VSMPO-AVISMA

29.08.2012 — News

SVERDLOVSK REGION.

Gazprombank, OJSC has increased its stake in VSMPO-AVISMA Corporation, OJSC to 13.2%.

On August 15, 2012, the bank, which had previously held a 2.69% stake in the titanium manufacturer, acquired 7.02% of the firm's securities.

The company's press office told RusBusinessNews that the state-owned corporation Rostechnologies was the principal owner (45.42%) of the Russian producer of titanium products. The directors of Rostekhnologiya had previously announced their willingness to sell part of their stake, but a decision on that is still pending. There are plans for VSMPO's securities to be listed on the London or Hong Kong stock exchanges in 2014.