Hungarian renewable-energy company PannErgy implemented a HUF 1.08 billion (€3.89 million) capital raise at geothermal energy company PannErgy Polifin, PannErgy announced.
PannErgy said that the stake of ONP Holdings in PannErgy Polifin had decreased to 6.91% from 7.43% as a result of the capital raise.
ONP Holdings, owned by Otto Albrecht, chairman of Hungarian brokerage Cashline, acquired a 7.43% stake in PannErgy Polifin on January 22, 2010 through a capital raise of 1.08 billion. In November 2009, ONP Holdings signed an American option for 1 million PannErgy shares between November 10, 2009 and October 30, 2010 at a price of HUF 950 per share. (MTI – Econews)