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N. Macedonia’s Interpromet to cancel 2,686 own shares

N. Macedonia’s Interpromet to cancel 2,686 own shares Ministry of Economy/All rights reserved.

SKOPJE (N. Macedonia), September 7 (SeeNews) - North Macedonia-based wholesale company Interpromet AD Tetovo [MSE:INPR] said on Tuesday it plans to cancel 2,686 of its own shares representing 3.86% of the company’s equity capital.

Interpromet’s equity capital will remain unchanged at 216.9 million denars ($4.2 million/3.5 million euro) as the company will increase the nominal value of its shares to 53.17 euro from 51.13 euro each, the company said in a filing with the Macedonian Stock Exchange (MSE).

After the cancellation of the shares the company's capital will be divided into 66,973 ordinary shares and 341 preferred shares.

The company's shareholders approved the cancellation on September 7.

Interpromet decided to cancel the shares after an unsuccessful attempt to sell them in June, it said in the filing. Interpromet offered the shares for sale at a starting price of 3,000 denars apiece, according to an earlier filing by the company.

Interpromet's shares last traded on the Skopje bourse on March 22 at an average price of 4,500 denars.

(1 euro = 61.55 denars)