CPV set to issue 1.4 bn additional shares
The Board of Directors of JSC Commercial Sea Port of Vladivostok ("CPV") has decided to issue 1.4 billion new ordinary registered dematerialized shares, the company said Tuesday in a statement.
The equity issue is implemented as part of the merger of CJSC Vladivostok Container Terminal and CPV. The package is formed by conversion of 28,800,000 shares of VCT of par value of RUB 10 to 1,400,000,000 shares of CPV valued at RUB 0.10/share.
Equity offering will be held the date of entry into the State Register of Legal Entities the termination of CJSC VCT.
JSC Commercial Sea Port of Vladivostok member of FESCO Transport Group, owns and operates its assets at the port of Vladivostok, a premier Russian seaport in the Far East region. The company specializes in handling general, bulk and containerized cargoes and operates 17 berths with 4km-long quay wall. Each berth has rail tracks of a total length of 20 km. The near-dock railyard capacity is 1,000 cars a day. In 2012, cargo volumes handled at CPV rose 4% year-on-year to 6,668,100 tonnes.
CJSC Vladivostok Container Terminal (also member of FESCO Group) in Vladivostok port handles all types of containers and a wide range of cargoes.
