N. Macedonia's Wabtec MZT to raise capital by 2.5 mln euro

The company plans to issue 49,000 new ordinary shares at a price of 51.13 euro each, equal to their nominal value, it said in a bourse filing.

The capital increase will help the company overcome financial challenges arising from repayment of loan debts and ensure further growth and development, Wabtec MZT said.

The company's shareholders will vote on the plan at a meeting scheduled for August 5.

Wabtec MZT's current equity capital of 4.1 million euro is divided into 80,295 ordinary shares with a par value of 51.13 euro each.

The company's shares have not traded on the Macedonian Stock Exchange (MSE) in the past year.

($ = 0.932 euro)