Dornafarm Suceava doubles capital

Shareholders of Dornafarm Suceava (ticker: DOFA) have approved the capital increase of up to 6.4 million lei via rights issue, according to a press release of the company remitted to Rasdaq stock exchange.

The company said it would issue additional 12.29 million shares aimed at bringing its capital to 12.28 mln lei.

The new shares to be issued will have a face value of 0.5 lei, 40% higher than the closing quote of 0.3lei/share.

The capital increase would be an underwritten rights issue with preferential subscription rights for ordinary shareholders. After the procedure, the remaining shares will be annulled.

Shareholders of Dornafarm gave the go-ahead to the merger with the drug distributor Farmaceutica Remedia (RMAH). However, talks have been put off for 2010.

Dornafarm has a share capital of 6.14 mln lei, divided into 12.28 mln shares at a face value of 0.5 lei.

The main shareholders of the company are Asimed Bucharest with 25.27%, Constantin Rabanca with 18.61% and Hedera Farm with 13.88% stake.
The company’s market cap is 3.68 mln lei (€0.86 mln) according to 0.3lei/share closing quote.

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