Home
/
News
/

Nyzhnyodniprovsk Pipe to Increase Charter Fund Sevenfold

Nyzhnyodniprovsk Pipe to Increase Charter Fund Sevenfold

4 March 2008

According to a company press release (via Interfax), Nyzhnyodniprovsk Pipe (NITR: HOLD) will vote on a 7.4x charter fund increase (to USD 19.8 mln) at its AGM on March 18. Subscription will be two-staged: (1) May 19 to June 2, and (2) June 3 to June 5. Proceeds will be used to replenish the company’s working capital and modernize the company’s facilities. Oleksandr Klymchuk: Based on yesterday’s close, the required price adjustment to accommodate the new number of shares on the ex-rights date is 86%. Historically, new share issues with a required correction of this magnitude have tended to provide a 50% or higher arbitrage profit (the concept is elaborated upon in our February 21, 2008 report).

Latest News

News

23

02/2022

Separatists may claim entire territories of two Ukrainian regions

Russia has recognized “all fundamental documents” of the self-proclaimed Donetsk and Luhansk People’s Republics (DNR...

News

23

02/2022

U.K. to provide USD 500 mln loan guarantee for Ukraine as IMF mission starts

The British government is going to provide up to USD 500 mln in loan guarantees...

News

23

02/2022

MinFin bond auction receipts jump to UAH 3.5 bln

Ukraine’s Finance Ministry raised UAH 3.3 bln and EUR 7.2 mln (the total equivalent of...