Romania's Nuclearelectrica to launch share cap increase in Jan

Nuclearelectrica plans to issue up to 23.92 million new shares at a price equal to their face value of 10 lei, Nuclearelectrica said in a statement filed with the Bucharest Stock Exchange.

A total of 19.43 million shares will be allocated to the Romanian state, to account for its contributions between 2006 and 2009 for the completion of the second unit of the power plant and for a contribution in kind with a land plot. The other shareholders will have the right to subscribe for the remaining 4.48 million shares.

The subscription period will start on January 5 and will end on February 4. Exising shareholders have the right to subscribe for 0.08487837 shares for every stock they already own.

The company operates Romania's sole nuclear power plant, located in Cernavoda, in the country's southeast. It has two reactors of 700 megawatts each, which cover roughly a fifth of the country's power needs.

(1 euro = 4.4685 Romanian lei)