Podravka will increase the share capital of its pharmaceutical company Belupo by 53.5 million kuna through the issuance of new shares, the Koprivnica-based food company reported on Friday.
The decision to increase the share capital was made by Belupo’s general assembly on Thursday, October 15. Based on this decision, Belupo’s share capital will be increased from 356.5 million kuna to 410.08 million kuna.
The increase in share capital will be carried out by issuing 535,080 new ordinary shares with a nominal value of 100.00 kuna each. All new shares will be subscribed by Podravka, as the sole shareholder of Belupo, through a cash payment. After the issuance of new shares, Belupo’s share capital will be divided into 4,100,876 ordinary shares.
The increase in Belupo’s share capital followed the successful completion of Podravka’s recapitalization and will be used to finance the construction of Belupo’s factories for the production of solid, semi-solid, and liquid forms of medicines.
The new Belupo factories are expected to be completed in the first quarter of 2017 and will employ around a hundred new employees. An investment of 400 million kuna is being made in their construction and equipping, Podravka stated.
