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FESCO eyeing private, not public share placement
07.07.2010
FESCO Group plans to float an additional share issue of its key member, Far Eastern Shipping Company (FESCO), the group's president Sergei Generalov told journalists today. He explained that the group was not preparing a public offering because it was still considering the private subscription opportunity.
According to Generalov, the company intends to obtain permission to issue shares in July-August. He did not specify the amount the company hopes to raise, however.
Back on May 19, FESCO was said to have decided to enlarge its authorized capital by floating 690,592,500 registered shares.
www.rbcnews.com
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