Romanian-Moldovan wine producer Purcari Wineries (WINE), whose shares are trading on the Bucharest Stock Exchange (BVB), announced that its shareholders approved a bonus share issue by capitalizing the money in the company's share premium account.

The number of shares will rise from 20 million to 40 million. The shareholders unanimously voted to increase the company's issued share capital from EUR 200,000 to EUR 400,000. The 20,000,000 bonus shares will be issued at nominal value and paid out of the company's share premium reserve. Thus, all the shareholders registered on July 20 will get one new share for each share they will hold at that date.

The WINE shares are trading up 13.6% since the beginning of the year.

The company with RON 500 mln (EUR 100 mln) capitalization has among its shareholders top international investors such as Fiera Capital, East Capital, Conseq, Franklin Templeton, Aberdeen, and SEB. Paval Holding, an investment vehicle owned by Romanian investors Adrian and Dragos Paval, the owners of DIY retailer Dedeman, also holds 5% of the wine producer's shares.

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andrei@romania-insider.com