Chimopar To Hike Share Capital By RON6.8M, To RON39.7M

04.12.2011 By Andrei Circhelan

Romanian chemical plant Chimopar Bucharest (CPR.RO) on Tuesday said it will increase its share capital by 6.8 million lei (EUR1=RON4.1152), to RON39.7 million, through cash contribution by majority shareholder Jafco Holding Romania.

Romanian authorities consider adopting the European single currency with a delay of one to two years to allow for a better fiscal consolidation, according to a government document.

Shareholders approved the operation Tuesday, and Jafco Holding Romania subscribed stock for RON6.7 million.

The operation involves issuing 2.7 million new shares, with a face value of RON2.5 per unit.

According to the latest reports, Jafco Holding Romania holds 78.3% in Chimopar, while investment fund SIF Muntenia (SIF4.

Chimopar shares were last traded, in the Unlisted category of the Bucharest bourse, on March 15, at a price of RON2.2, up 15.79% on the day.