The prospectus for the public offering shall be filed with the Financial Supervision Commission for approval.
At a meeting held on March 14th the Board of Directors of HES approved the decision for a capital increase from BGN 2.62 mln to BGN 3.039 million through the issuance of 419.173 common, dematerialized, registered, entitling to voting rights shares.
The capital increase will be realized on the market of BSE-Sofia AD through the issuance of rights and the subscription of new shares.
The Board of Directors authorized the licensed investment intermediary Reiffeisen Bank Bulgaria EAD to manage the capital increase procedures.
Hydraulic Elements and Systems reported an unconsolidated net profit of BGN 1.761 mln for 2006 against BGN 1.378 mln for the previous year.
The main shareholder in the company is Stara Planina Hold AD with 70.76 % of the capital.
So far today 763 shares of the company have been traded at an average price of BGN 26.35. Bids are currently at BGN 26 and asks -at BGN 27.20.