Nord Bucuresti increases capital to 6.1 million RON

The shareholders of Nord Bucuresti, a hotel operator, have approved a 3.6 million-RON capital increase, from 2.5 million RON to 6.1 million RON, through a cash contribution. The move entails the issuing of 1.45 million shares with a nominal value of 2.5 RON, shows a Nord release. Company shareholders will have one month to subscribe the new shares, from the publication of the General Meeting of Shareholders’ decision in the Official Gazette, proportionately to their respective stakes. The shares that are not purchased by the end of this period will be cancelled. Nord has a share capital of 2.5 million RON, divided into 993,000 shares, with a nominal value of 2.5 RON. According to the latest reports, Austrian-based Central European Financial Services controls 56.7% of the shares, while SIF Transilvania (a financial investment company) holds a 25.2% stake. Nord has a market value of 43 million RON. The company in turn holds stakes in several companies, among which Ana Hotels and Nord Hotel & Business Center.