FESCO to increase its authorized capital by 25%
FESCO (Far East Shipping Company) is going to increase its authorized capital by 25% - from 1.64 billion rubles to 2.05 billion rubles through placement of additionally issued shares by public subscription. The decision was approved yesterday by FESCO’s Board of Directors, FESCO’s press center reports, according to RZD-Partner.
FESCO’s authorized capital consists of 1 billion 643 million 593 thou shares with a nominal value of 1 ruble each. The company will additionally issue 410 million 898 thou shares. The share of additional stock is to make 19.99% of the company’s authorized capital. The price of FESCO’s shares at last deal of Russian Stock Exchange held October 17 was $0.33 per share. Thus, the company may additionally attract $135 million.
