Acronit to issue RUB 17.3 bn in additional shares

摘要

ACRON SUBSIDIARY Acronit, which owns 100% of Verkhnekamsk Potash Company (VPC) and North- Western Phosphorous Company (NWPC), plans to issue additional shares to the total value of RUB 17.295 billion ($570.7 million), Acron reported on Monday. Acron will acquire the additional Acronit shares following its Board of Directors' approval for the transaction. Acronit will use the funds received from the sale of shares to increase the authorised capital of VPC in order to repay an internal loan to Acron, Acron said.