At a meeting today, the Board of Directors of Chimimport AD adopted a decosion for capital increase from 130 mln leva (66.468 mln euros) to 150 mln leva (approximately 76.693 mln euros), through the issunace of 20 mln common, papareless, voting shares with a face value of 1 lev, BSE reports.

The Board of Directors also authorized the company's executive directors to issue a prospectus for the public offering of the stock, to determine the issue value of the new shares, to file the prospectus with the Financial Supervision Commission (FCE), and to set the parameters for the issuing of the 20 mln new shares.

The company's Supervisory Board approved the decision at its meeting today. According to the company's statute, capital may be increased to no more than 150 mln leva (76.693 mln euros).

„We are hoping to file the prospectus with the FCE till 20 July, and to complete capital increase procedures till September“, Alexander Karamazov, vice-chairman of the Board Of Directors told profit.bg today.

The funds raised in the increase will be used to increase the capital of Central Cooperative Bank, to fund invetsments in aviation and on other projects, Mr. Karamazov also said.

The consolidated 1Q profit of Chimimport stands at 22.62 mln leva (11.565 mln euros), which is 0.174 leva per share, compared with 747,000 leva (381,935 euros), or 0.01 leva per share a year ago.

The company's consolidated assets stand at 1.8 bln leva (920.325 mln euros) in 1Q, and shared capital is in the amount of 360.76 mln leva (184.453 mln euros). Principal shareholder is Chimimport Invest AD controlling 86.6% of the capital.

Some of the biggest companies controlled by the holding are Central Coopeartive Bank, Bulgarian River Shipping AD, Armeets, Oil and Gas Research and Extraction, air carriers Hemus Air and Bulgaria Air, Slanchevi Lachi Bulgaria and others.

The stock of Chimimport added 3.08% to 12.38 leva today, and its market capitalization currently stands at 1.6 bln leva (approximately 818.067 mln euros).