January 20 (SeeNews) - Romanian petroleum logistics company Oil Terminal [BSE:OIL] said on Friday that the Financial Supervisory Authority, ASF, has approved its prospectus for a share capital increase of up to 154.6 million lei ($33.9 million/31.4 million euro).
Oil Terminal intends to issue up to 1.546 billion new shares with a nominal value of 0.1 lei each, it said in a statement filed with the Bucharest Stock Exchange.
The offer will be open to existing shareholders between January 23 and March 8, with Romanian brokerage SSIF Prime Transaction acting as the intermediary.
Based in the Black Sea port city of Constanta, Oil Terminal is specialised in logistics pertaining to a variety of petroleum products and chemicals. The company has a total storage capacity of approximately 1.7 million cubic metres. Oil Terminal’s majority stakeholder is the Romanian energy ministry, with a stake of 59.6%; other major stakeholders include Dumitrescu Sebastian Valentin, with a 16.73% stake.
Oil Terminal shares traded 5.06% lower at 0.15 lei as at 1133 CET on Friday on the Bucharest bourse.
(1 euro=4.9293 lei)