OREANDA-NEWS. Metinvest Group announces the issue of an additional 14,729,000 ordinary shares of Central Iron Ore Enrichment Works (Central GOK).

Metinvest Group announces the issue of an additional 14,729,000 ordinary shares of Central Iron Ore Enrichment Works (Central GOK) for a total nominal amount of UAH 3,682,250. As result of the issue, the registered capital of the enterprise will grow to UAH 296,635,000.

This decision was made during a shareholders' meeting on 19 February.

The additional shares will only be issued to existing shareholders at the market price. The plant plans to earn about UAH 96 million in total due to the share issue.

Proceeds from the share issue will be allocated by Central GOK to replenish the plant's working capital and finance some projects, including the development of Fe-containing sand, repair of diesel locomotives and excavators, and major overhaul of railway tracks.