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Montenegro's Investment and Development Fund hikes capital

Author Radomir Ralev
Montenegro's Investment and Development Fund hikes capital Author: Ken Teegardin. Licence: Creative Commons, Attribution-ShareAlike 2.0 Generic.

PODGORICA (Montenegro), September 17 (SeeNews) - Montenegro's government has subscribed a 161,563 euro ($177,922) capital hike of state-owned Investment and Development Fund [MNG:IRCG], the fund said.

The fund issued 161,563 shares with a nominal value of 1 euro apiece, the Investment and Development Fund said in a filing with the Montenegro Stock Exchange on Monday.

After the completion of the transaction, the total capital of the fund amounts to 105.3 million euro, the total number of shares is 105,326,226 and the nominal value per share is 1 euro, the Investment and Development Fund said.

The core businesses of the fund is granting loans and extending guarantees and performing activities aimed at supporting economic development. The Montenegrin government owns the entire capital of the fund.

($ = 0.908055 euro)

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