O2TV (MICEX:ODVA) announced a private placement of 560,000,000 common shares at RUB 5.7 per share for gross proceeds of RUB 3,192,000,000 on December 26, 2011. The company has received shareholders' approval for the transaction. On January 20, 2012, the company announced the board of directors' approval for the transaction. The company will now issue 560,000,000 common shares at RUB 5.60 per share for gross proceeds of RUB 3,136,000,000. On March 29, 2012, Federal Service for Financial Markets registered the issue. On May 23, 2012, the company started placement of shares. On May 25, 2012, O2TV closed the transaction. The company issued shares at RUB 5.6 per share for gross proceeds of RUB 3,136,000,000. The transaction saw participation from Silvernight Holding Ltd., Stearway Limited, and Streamball Trading Ltd. and existing investors who have the preemptive right subscribed the shares. Stearway Limited now holds 28.57% stake, Silvernight Holding Ltd. holds 27.14% stake, and Streamball Trading Ltd. holds 24.29% stake in the company.