April 14 (SeeNews) - State-controlled Telekom Srbija convened an extraordinary shareholders' meeting to propose the issue of bonds on the international financial market, it said.
The meeting will be held on May 4, Telekom Srbija said in a notice posted on its website on Wednesday.
Earlier this week, Telekom Srbija CEO Vladimir Lucic said the company plans to issue a 500 million euro ($546 million) bond on the stock exchange in Luxembourg or Frankfurt.
"We will invest the money in the further development of our optical infrastructure, mobile network and in the expansion of Telekom Srbija," he noted.
Telekom Srbija recorded a profit of 13.1 billion dinars ($121.3 million/111.2 million euro) in 2021, backed by a substantial rise in revenue, Lucic said on Monday.
The company provides a range of services to over 11 million users through its units in Serbia, Bosnia and Herzegovina, Montenegro and Austria. In November 2021, Telekom Srbija launched operations in North Macedonia.
($ = 0.91595 euro)
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