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TIRANA, July 29ؓidenor, a Greek steel products manufacturer said it has increased the capital of its wholly-owned Albanian subsidiary Sideral by 1.85 million euro .
The capital increase, approved by the Sidenor board of directors, involves cash payment and the issuance of 229,773 news shares of 1,000 Albanian Lek (7.0 euro) par value each, the Greek company said in a statement posted on its website.
After the capital increase Sideral’s share capital will amount to 229.87 million Lek, divided into 229,873 shares of 1,000 Lek par value each, wholly-owned by Sidenor, the statement said.
The Albanian subsidiary’s main line of business is the distribution and marketing of Sidenor products in the local market.
