September 17 (SeeNews) - Slovenia's white goods manufacturer Gorenje said on Monday it is cutting its registered share capital by 506,221.83 euro ($590,327.1) to 101.4 million euro.
The share capital will be reduced by the withdrawal of 121,311 GRVG shares already owned by the company, which represent 0.4967% of the share capital, the company said in a filing to the Ljubljana Stock Exchange.
"The purpose of the share capital reduction is to increase the profitability of the company’s equity," the company said.
Upon the reduction, the company’s share capital shall be distributed into 24,303,302 ordinary freely transferable non-par value GRVG shares.
The general assembly of Gorenje approved the proposed share capital reduction on September 17.
($=0.857447 euro)
Gorenje d.d. is among the biggest companies in SEE. You can download our SEE Top 100 ranking
here or subscribe to our free Top 100 newsletter
here