WOOD Flash – Etalon: EGM on 22 March to authorise 30% capital increase (c.USD 150m) to finance land purchases
Etalon is calling an EGM on 22 March, to authorise the issuance of 88.5m ordinary shares. This would increase the number of shares by 30%, compared to current level. If the company placed the entire amount at the current share price, it would raise USD 149m, or RUB 11bn.Etalon Group is a real estate development and construction company. Co.'s principal activity is residential development in Saint-Petersburg metropolitan area and Moscow metropolitan area, the Russian Federation. Co. has three reportable segments: Residential Development, which includes construction of residential real estate including flats, built-in premises and parking places; Constructions Services, which includes construction services for third parties and for internal purpose; and Other Operations, which include selling of construction materials, construction of stand-alone premises for commercial use and various services related to sale and servicing of premises.
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