Macedonian Wine Maker Tikves To Raise 3.27 Mln Euro ($4.2 Mln) in Capital Hike

Tikves will raise its capital to 13.828 million euro through the issue of 63,950 new ordinary shares with a nominal price of  51.13 euro, the company said in a statement sent to the Macedonian Stock Exchange (MSE) where it is listed.

The newly-issued shares will be offered to the European Bank for Reconstruction and Development (EBRD) at a price of 93.92 euro per share, the statement added.

Before the capital hike, the company's capital was divided in 206,500 shares of which 191,941 were ordinary and 14,559 were priority stocks.

Tikves’s stock closed at 5,170 denars on Friday, 0.4% down from a day earlier. 

Tikves (www.tikves.com.mk) is based in Kavadarci, in southern Macedonia. It processes some 55,000 tonnes of grapes a year to produce an average 350,000 litres of wine. It produces blended wines from 30 varieties and sells them under 24 brand names.

($=0.778 euro)