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N. Macedonia's securities commission greenlights Sinceritas cap hike plan

N. Macedonia's securities commission greenlights Sinceritas cap hike plan Cannabis. Image by Brian Shamblen.

SKOPJE (N. Macedonia), October 15 (SeeNews) - North Macedonia's Securities and Exchange Commission (SEC) said on Friday it gave the nod to local medicinal cannabis producer Sinceritas to raise 2.1 million euro ($2.4 million) in funding through a new share issue.

Sinceritas will issue 190,500 ordinary shares at a price of 11 euro each, higher than their nominal value of 1 euro, the SEC said in a statement.

The transaction will increase Sinceritas' capital by 190,500 euro.

The new shares will be purchased by six buyers - foreign individuals and legal entities - who remained undisclosed.

Sinceritas is issuing the new shares to raise capital for its operations, the statement reads.

($ = 0.8616 euro)

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