PPC announces 750-million-euro share capital increase plan

PPC is expected to complete a share capital increase plan worth around 750 million euros by early November, following a decision reached by its board on Thursday.

Final approval to the plan is expected to be given by PPC’s shareholders during a general meeting scheduled for October 19, while the board has already begun contacts with international investors and marked significant interest in the plan.

The money to be raised will be used to finance PPC’s investment programme, designed to reach 8.4 billion euros by 2026. Under the plan, the share capital increase scheme is recommended to exclude shareholders’ rights, although a distribution mechanism to offer new shares to existsing shareholders could be used.