October 21 (SeeNews) - Romanian power supplier and distributor Electrica [BSE:EL] said on Monday that its board of directors has approved a prospectus for increasing the company's capital by some 6.05 million lei ($1.4 million/1.3 million euro) to 3.465 billion lei via a new share issue.
The prospectus is now awaiting approval from the financial regulator, Electrica said in a bourse filing.
Under the prospectus, the Romanian state will receive 295,114 new shares with a nominal value of 10 lei each in exchange for an in-kind contribution - land ownership certificates issued by the economy ministry.
The remaining 309,869 shares will be offered to other existing shareholders at a price equal to their nominal value - 10 lei.
Electrica, in which the Romanian state owns a stake of 48.8%, is listed on the Bucharest Stock Exchange and the London Stock Exchange.
As at 11:10 CET on Monday, Electrica shares traded 0.45% higher at 11.1 lei on the Bucharest bourse.
(1 euro = 4.7476 lei)