The company can dispose its shares independently or through banks and stock exchanges. Subscription for shares must be announced in the press. Subscription duration must not exceed 6 months. The persons participating in the subscription must prepay 10 per cent of a share nominal value. The said persons are given a written obligation to sell a certain quantity of shares by the founders.
Subscription is ended by expiration of the period indicated in the announcement.
If by that time less than 60 per cent of shares are subscribed, then the company is considered as not established and within 30 days the prepaid sums or contributed property are returned to the subscribers. By the date of the founding meeting the subscribers must pay 30 per cent of the shares nominal value, taking into account the sums contributed earlier. The founders give temporary certificates to such persons. In the case of a closed type company the founders must pay 50 per cent of the shares nominal value by the date of the founding meeting. Founding meeting of the company Founding meeting of the company is to be held within 2 months after the subscription is ended.