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Owner of Comcor TV contemplates private offering
RBC, 12.05.2006, New York 19:56:28.Moscow CableCom Corp., the owner of Comcor TV (the Akado brand), proposes to complete private placement of its shares worth $20,374,009 on May 18, 2006, the company said. Corporate documents indicate that the company will float around 2,462,860 parcels each comprising one share and half a share warrant with a fixed price. The share warrant will entitle investors participating in this placement to purchase one share per warrant for $9.852 after May 5. The company also said that Renova Media Enterprises Ltd., known better as Columbus Nova Investments Ltd., would buy 49.1 percent of the company's securities offered, thus raising its stake in Moscow CableCom from 33.6 to 58.9 percent. Moscow CableCom's managers are expected to acquire 25.7 percent (around 621 parcels). According to the company's CEO Mikhail Smirnov, the funds raised would be used to speed up the expansion of the company's Moscow hybrid network and keep up active sales and marketing programs. Founded in 1005, Comcor TV is a telecommunications provider offering such services as cable television, high-speed internet access and various hosting services.
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