March 18 (SeeNews) - Bulgaria's Remix Global, which operates the online second-hand clothes store Remixshop, said that its shareholders have approved a proposal to increase the company's capital by 154,506 levs ($89,000/79,000 euro) to 4,377,500 levs via a new share issue.
Dutch-based AMC III Clothing will subscribe for all 154,506 offered shares, the minutes from Remix Global's shareholders meeting published on Friday showed.
The 154,506 newly-issued shares will represent a 3.53% stake in Remix Global following the capital increase, according to SeeNews estimates.
AMC III Clothing held 274,494 shares in the company on March 11, according to documents filed with the commercial register. With the additional 154,506 newly-issued shares, AMC III Clothing will hold a stake of 9.8% in Remix Global after the capital hike.
Remix Global's net loss widened to 13.9 million levs in 2017 from 1.6 million levs the year before. However, the company managed to grow its sales revenue to 34.8 million levs in 2017 from 7.5 million levs in 2016.
Remix Global offers its services in nine countries - Austria, Bulgaria, Czechia, Germany, Greece, Hungary, Poland, Romania and Slovenia. The company, which has a logistics centre in Sofia, employs over 600 people.
(1 euro = 1.95583 levs)