February 19 (SeeNews) - Bosnian mill and bakery firm MPI Modrica [BANJ:MPIM] said it will hike its share capital by 3.85 million marka to 7.9 million marka ($4.4 million/4.0 million euro).
The company's shareholders approved the move at a February 18 extraordinary shareholders meeting, MPI Modrica said in a filing with the Banja Luka bourse on Tuesday.
It did not provide the reason for the planned capital increase.
Under the decision, the current capital of 4.05 million marka will be nearly doubled via a new share issue. Following the hike, the company's share capital will be divided into 7.9 million regular shares of 1.0 marka in par value each.
MPI Modrica's shares last traded on the Banja Luka bourse on June 15, 2018, closing flat at 0.097 marka.
The Modrica-based bakery firm is 99%-owned by Vitez-based company Kim Tec, bourse data showed.
(1 euro = 1.95583 marka)