OREANDA-NEWS. November 25, 2009. Landkom, a major Ukrainian rape producer, approved a decision about an additional issue of 195mn shares, which amounts to 45% of outstanding shares. The Company expects to get proceeds of USD 16mn from the sale of this block of shares, and the share placement period started on 25 November.

Millennium Capital sees the news to be neutral for the Company. Landkom stocks price dropped 38% in the previous two months due to the issuing company’s lack of working capital needed for its operations. This forced the Company to sell its shares at around a 20% discount from their current price.