Macedonian cigarette maker TKP completes capital hike

Tutunski Kombinat Prilep (TKP), majority-owned by the state, has issued 259,622 new ordinary shares to settle its debt to the government through a conversion of a non-cash capital contribution into equity, the company said in a statement sent to the Macedonian Stock Exchange.

After the capital hike, TKP's capital is divided into 2,701,030 ordinary and 40,815 preferred shares, including 2,232,795 ordinary shares owned by the government.

TKP is based in the city of Prilep, in central Macedonia.

($=0.8132 euro)