Broker Cluj increases capital

Cluj-Napoca-based financial brokerage company Broker intends to increase its share capital by over 23 million RON (6.5 million euros) this year, by issuing free shares as well as by an injection of capital by the shareholders. The capital increase by issuing free shares would be made through the capitalisation of 89.95% of the net profit seen last year, with the rest of the profit to be used to fund investments. As part of this operation, the company wants to issue over 11.6 million new shares, with each shareholder who is registered in the shareholder”s registry at the end of April 10 receiving 365 newly-issued shares for every 1,000 old shares owned. As part of this capital increase through cash contribution, Broker intends to issue over 11.49 million new shares at a par value of 1 RON/share. Broker shareholders will be able to underwrite these shares at a 1.05 RON/share price, a lot less than the price for which company shares are currently traded on the Stock Exchange. Due to these operations, Broker”s share capital would reach 55 million RON (15.7 million euros), 72.5% more than the current level. ZF