Energy-efficiency company RFV has received regulatory approval to raise up to HUF 1.1 billion with the issue of new shares in an open subscription, the company said on the website of the Budapest Stock Exchange on Wednesday.
RFV will issue 50,000-400,000 new shares, raising registered capital 2.5-20%. The issue price will be HUF 2,750.
RFV will use the proceeds from the sale of the new shares for heating modernization projects this year, chairman-CEO Csaba Soós said at the end of June. The capital raise should spur growth after 6-9 months of stagnation, he added. (MTI-ECONEWS)