Romanian calcined alumina producer Alum Tulcea (BBGA.RO) will increase its share capital by 22 million lei (EUR5.4 million) to RON491.4 million through cash injection from shareholders, the company said in a statement Wednesday.
Alum Tulcea will issue 3.7 million new shares with a face value of RON5.95.
The company is 99.38%-owned by aluminum smelter Alro Slatina (ALR.RO), part of Dutch-registered Vimetco group.
Alum reported net profit of RON31.6 million in 2010, on total revenue of RON484 million. The company estimates a 68% increase in profit to RON53.3 million this year, while revenues are seen growing 25% to RON607 million.
On the Bucharest bourse February 21, Alum Tulcea closed up 36.36% at RON3 a share. (EUR1=RON4.0767)