Oltchim mulls $90m capital increase

Petrochemical plant Oltchim Ramnicu-Valcea is planning a $90m (2,815 billion ROL) capital increase by including reserves derived from asset reassessment. If the increase is endorsed, each Oltchim shareholder may receive nine new free shares for every share held. The Extraordinary General Meeting of Shareholders was announced last Friday, after several days of hefty price increases for the Oltchim shares on the Bucharest Stock Exchange. Those that bought Oltchim shares two weeks ago have already gained 50%. ZF