Warbud's shareholders raise companys capital

APA - Austria Presse Agentur
24-10-2005, 10:57

Poland:  Warsaw (Puls Biznesu) Warbud, the construction company specialising in flats, offices and engineering, will have its capital increased at the general shareholders meeting to be held on October 26th.

Poland:  Warsaw (Puls Biznesu) Warbud, the construction company specialising in flats, offices and engineering, will have its capital increased at the general shareholders meeting to be held on October 26th.

Company's capital is planned to be raised by PLN 19m (EUR 4.9m) via issuing E series inscribed stock, Agnieszka Wasawska, Warbud's spokesperson said.

Today, the company's joints stock amounts to PLN 41.3m. The new issue is directed to present shareholders. Warbud is owned by French Vinci Construction. Funds raised in the issue will be devoted for investments and signing new contracts.

In the three quarters of this year, the company had PLN 6.4m of net income. The year may be ended with some income. Last year, Warbud's net income after nine months amounted to PLN 1.7m, but at the end of the year, the loss amounted to PLN 53.7m. In order to raise Warbud's liquidity, so the company can apply for new contracts, Vinci capitalised it with PLN 36m in February, increasing joint stock by 500 percent.

Warbud's average annual sales amount to PLN 1 billion. The company has nearly 700 employees.

(PLN 1= EUR 0.256)

Poland/Enterprises/Construction

 

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Podpis: APA - Austria Presse Agentur

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