Drujba Glassworks To Raise Cap To 53.52 Mln Leva

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Drujba Glassworks To Raise Cap To 53.52 Mln Leva

Shareholders in Drujba Glassworks ()  have adopted a decision for a capital raise from 6.69 mln leva (3.42 mln euros) to 53.52 mln leva (27.36 mln euros) at a general meeting held yesterday, x3news reports. The company will issue 46.83 mln new shares with a face value of 1 lev using own funds.

Investors holding the stock on April 10 will be entitled to receive new shares.

Shareholders will receive 7 new shares against each one they own. The GM has appointed United Bulgarian Bank as underwriter to the procedures.

The meeting also authorized the Board of Directors to take decisions for capital increases to up to 200 mln leva. The Board will also be able to issue debt worth up to 200 mln leva. The authorizations will be valid for a term of 5 years.

There were no transactions involving the company's stock on BSE today. Four shares changed hands yesterday falling to an average of 123 leva/share.

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