Khartsyzk Pipe to Increase Charter Fund by 2%

According to Interfax, Khartsyzk Pipe (HRTR: SELL) shareholders gave the go ahead to a 2% charter fund increase (to USD 25.7 mln) at their AGM on March 14. Subscription will be held at par and be conducted in two-stages: (1) from May 5 to May 19, and (2) from May 20 to May 21. The ex-rights date is May 2. The issue is part of the restructuring process of SCM’s metals & mining companies.