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Alteo to raise capital to fund developments, expand activity

Hungarian energy supplier and trader Alteo will propose to shareholders at an extraordinary general meeting on October 6 raising capital by HUF 85m to finance developments at the company's Győr Power Plant and support the expansion of its electricity trading activities, the agenda for the EGM shows.

The shares will be subscribed by existing shareholders at a price of HUF 1,000 apiece.

HUF 8.5m of the raise will increase registered capital and the rest will go into capital reserves.