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Lotos oil giant proposes major share issue

PR dla Zagranicy
Nick Hodge 13.08.2014 13:49
Polish state-controlled oil refiner Grupa Lotos is planning to increase its number of shares by 42.35 percent.

Image: sxc.hu

The announcement comes as the company prepares to increase its oil and gas production.

Lotos would issue shares to the value of 1 billion zloty (238.4 million euro) in a bid to finance its new operations.

Shareholders are due to vote on the matter on 9 September.

At present, the Treasury has a 53.2 percent stake in the company, which is Poland's second-biggest oil refiner. (nh)

Source: PAP/Reuters

tags: gas, lotos, oil
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