SKOPJE (Macedonia), March 13 (SeeNews) – Macedonian chemicals plant Ohis [MSE:OHIS] said on Thursday it will raise its capital by 314.6 million denars ($7.1 million/5.1 million euro) through a new share issue as part of a debt-for-equity swap with the government in Skopje which is the majority shareholder in the company.
Ohis will settle its debt towards its majority shareholder by issuing 99,747 new ordinary shares at a sale price of 51.129 euro ($71.1) apiece, equal to their nominal price, which will be subscribed by the government, Ohis said in a filing with the Macedonian Stock Exchange.
The company's shareholders approved the capital hike on March 12.
Before the capital hike, the company’s equity capital totaled 98.6 million euro divided into 1,929,048 shares, including 68,487 preferred shares.
The Macedonian government controlled 72% of Ohis at the end of 2011, according to the latest data from the website of the Macedonian Stock Exchange, while the reminder was in hands of smaller shareholders.
(1 euro=61.6850 Macedonian denars)