Russia's Far Eastern Shipping Company (FESCO) intends to increase its equity by 25%, up to 2,951,250,000 shares. At the company's share price at the beginning of May, this would increase its capital by approximately USD767.3 million, part of which will be used to acquire 50% of Vladivostok Container Terminal. FESCO already owns 50% of Russia's largest container terminal stevedore, National Con- tainer Company (NCC), underlining its desire to be involved in all container operations, including inland transport in Russia, as well as short-sea services to/from Russian ports. The company was originally floated in April 2002 with 1,643,593,000 shares, since then 306,509,000 shares were issued at the end of 2006, fol-lowed by a further 305,509,000 shares a year ago.
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