Slovenia's Intereuropa Group gets regulatory nod for share issue admission to trade

The registration of shares in the central register will be effected on December 27, the company said in a bourse filing on Monday.

Intereuropa added that it expects trading in the no-par value dematerialised, negotiable shares to begin in the next days.

In August Intereuropa said its shareholders approved a 19.6 million euro ($26 million) capital increase through the conversion of creditor claims into equity. At the time the capital hike plans were unveiled, Intereuropa said the move was agreed with the company's creditor banks as part of its financial restructuring and after its shareholders failed to express interest in raising the capital themselves. The creditor banks that will convert claims into Intereuropa equity are Gorenjska Banka, Raiffeisen Banka, SKB Banka, Banka Koper, SID, Nova Ljubljanska Banka, and Nova Kreditna Banka Maribor, the logistics company said back then.

The approved issue, which will raise the company's capital to 27.5 million euro, will comprise 8,928,425 euro in no-par-value ordinary shares and 10,657,965 euro in no-par-value preferred shares, it added.

The capital hike will be preceded by a simplified decrease of the company's share capital and transfer of the proceeds to capital reserves. The capital cut will be carried out by slashing the price of the company's shares to 1.0 euro apiece from 4.17307 euro, while their number will remain unchanged at 7,902,143. The move will see Intereuropa's share capital cut to 7,902,143 euro from 32,976,185 euro, the company said in August.

($=0.7536 euro)