Fuel retail Petrol increases capital via issue of shares _x000d_

18.08.2004 Source: Dnevnik

A general meeting of shareholders in local fuel retailer Petrol will put to the vote a proposal to expand the company's capital through the issue of shares, reads a notice posted by the company on the website of the Bulgarian Stock Exchange - Sofia. The shareholders are also expected to decide to launch a Global Depositary Receipts programme for Petrol's shares and stage their sale to portfolio investors at private placement terms. For the time being the company does give away the financial parametres of either the capital increase or the GDR programme. Currently, Petrol has a capital of 109.250 mln levs. It was last increased in mid-2003 from 1.844 mln levs through the issue of new shares. Back then, the company's shares plunged from 65 levs to 1.15 levs on the local bourse. On Tuesday they traded at 3.15 - 3.23 levs.