SIF 4 Muntenia subscribed 82,352 shares in Unirea Shopping Center - Bucharest (RASDAQ:SCDM) for 10 million RON during December"s capital increase, according to an announcement to the Bucharest Stock Exchange (BSE). The unit price was 121.43 RON.
Unirea issued a total of 1.05 million shares with a face value of 2.5 RON and a subscription price of 121.43 RON, which is about 4% more than the latest available RASDAQ quotation of 117.1 RON. Unirea announced plans to increase share capital by 2.64 million RON (786,000 EUR) to 7.84 million RON (2.34 million EUR).
Some 775,450 shares worth 1.93 million RON could be offered to the majority shareholder, Nova Trade, towards the execution of the contractual obligations undertaken upon acquiring the majority stake from AVAS. Nova Trade"s contribution consist of an above-ground multi-level parking lot measuring 40,846 sq.m.
The remaining 279,778 shares worth 699,400 RON (209,000 EUR) will be offered to the other shareholders. Nova Trade holds 65.4% as per a report dated December 2004. Before the increase, the company had a share capital of 5.21 million RON divided into 2.08 million shares with a face value of 2.5 RON.