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Financial regulator approves Romania's Electrica cap hike prospectus

Author Mario Tanev
Financial regulator approves Romania's Electrica cap hike prospectus Electrica Romania

BUCHAREST (Romania), October 31 (SeeNews) - Romanian power supplier and distributor Electrica [BSE:EL] said that the Financial Supervision Authority has approved the company's prospectus for a captial increase via a new share issue.

Electrica will seek to increase its capital by some 6.05 million lei ($1.4 million/1.3 million euro) to 3.465 billion lei, the company said in a bourse filing on Wednesday.

In accordance with the prospectus, the Romanian state will receive 295,114 new shares with a nominal value of 10 lei each in exchange for an in-kind contribution - land ownership certificates issued by the economy ministry.

The remaining 309,869 shares will be offered to other existing shareholders at a price equal to their nominal value - 10 lei.

Electrica, in which the Romanian state owns a stake of 48.8%, is listed on the Bucharest Stock Exchange and the London Stock Exchange.

As at 12:05 CET on Thursday, Electrica shares traded 0.44% lower at 11.4 lei on the Bucharest bourse.

(1 euro = 4.7476 lei)

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