Publishers want $1 million

The Press Publishers and Distributors Group (GEPD), the company planning to secure exclusive rights for printed press retail in Bucharest, wants to increase its shareholders’ equity by 33bn ROL ($1 million) to 37.6bn ROL. The shares will be offered to the already existing shareholders first, so that they could maintain their stake in the company, with those unsubscribed sold publicly. The shares will be sold for 100,000 ROL, the same as the par value. The company, which has already run an IPO, is planning to have its shares listed on the Stock Exchange. It raised 3.4bn ROL through the IPO brokered by CA IB Securities. The current share capital will not allow it to be traded anywhere else but on the unlisted securities market, yet the capital increase up to 1 million euros and the Stock Exchange’s plans to lower the minimum capital requirements for a company to be listed could allow it to move up to the second tier. ZF