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Oct 03, 2007 19:01 EEST
October 3 (SeeNews) - Romanian real estate company Impact Developer & Contractor plans to raise its share capital by 85.1 million lei ($35.8 million/25.2 million euro) to 200 million lei via a bonus issue, it said on Wednesday.
Impact will propose to its shareholders to use funds from the company's reserves to raise the capital by giving them 74.12 bonus shares for each 100 they are holding now. They will vote on the proposal on November 11, Impact Developer & Contractor said in a statement.
The company raised its share capital by 14.9 million lei to 114.9 million lei last week.
Company stock closed 0.93% lower at 1.06 lei per share on the Bucharest Stock Exchange on Wednesday.
Impact Developer & Contractor (www.impactsa.ro) was set up in 1991 and is one of the top privately held real estate developers in the EU newcomer. The company reported a first-half net loss of 10.8 million lei from 11.23 million lei net profit a year earlier.
In September, a subsidiary of the U.S.-based Lehman Brothers Real Estate Partners acquired a minority stake in Impact.
Romania joined the EU in January.
(1 euro = 3.3709 Romanian lei)
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