N. Macedonia's Makedonija Osiguruvanje raises capital by 4 mln euro

Makedonija Osiguruvanje issued 201,700 new ordinary shares, each with a nominal value of 20.084 euro, the company said in a bourse filing.

Following the capital hike, the insurer's total equity capital amounts to 18.46 million euro, divided into 919,162 shares with a par value of 20.084 euro each.

The capital increase is part of a transaction to absorb Winner, VIG's other unit in the country, the country's Central Securities Depository said on Wednesday.

Makedonija Osiguruvanje said last week it has completed the merger with Winner.

The Austrian group also has a third unit in North Macedonia - Winner Life.

($ = 0.926 euro)