September 26 (SeeNews) - North Macedonia's Securities and Exchange Commission (SEC) said on Monday it gave the nod to investment company Normak Investment Group AD Tetovo to increase its capital by 1.3 million euro ($1.3 million) through a private placement of a new share issue.
Normak Investment Group AD Tetovo will issue 26,200 ordinary shares at a price of 50 euro apiece, the SEC said in a statement.
The nominal price of a Normak share is 50 euro, according to the company's latest financial report.
The newly issued shares will be purchased by the company's sole owner, Oslo-based Normak Investment Group.
In May 2021, US-based car parts maker Lear Corporation and Norway's Normak Investment Group broke ground for a 15 million euro manufacturing facility in North Macedonia's Tetovo.
Lear opened its first plant in North Macedonia in 2016. It is located in the industrial zone of Tetovo, which operates as a public-private partnership between North Macedonia's government and Normak Investment Group.
($ = 1.03386 euro)