SOFIA (Bulgaria), April 25 (SeeNews) – Bulgarian sunflower oil producer Rosa said that it is seeking the approval of its shareholders to seek a 12.2 million levs ($7 million/6.2 million euro) capital increase via a new share issue.
Rosa intends to offer 6.1 million shares with a nominal value of 2 levs each, the company said in a filing to the commercial register.
Currently, the company’s capital amounts to 1,693,606 levs. If the issue is fully subscribed, the company will hike its capital to 13,893,606 levs.
Shares, which are not subscribed for by existing shareholders, can subsequently be subscribed for by local company Patengineeringstroy-T, according to the proposal.
Rosa’s shareholders will put the proposal to a vote at a general meeting scheduled for June 4.
Rosa turned to a net loss of 15.1 million levs in 2017 from a net profit of 1 million levs in 2016, according to its latest available annual financial statement. The company’s revenue fell to 97.2 million levs in 2017 from 108.3 million levs a year earlier.
(1 euro = 1.95583 levs)