This is the company’s second call on stockholders to raise funds in the second half of 2011, following a RON3.33 million capital increase to RON6.19 million in November.
Electroarges plans to issue 30.9 million new shares with a face value of RON0.1. Stockholders will have to pay a bonus of RON0.2 for each new share they buy during the operation.
The proposal is subject to shareholder approval at a meeting due January 14.
Electroarges is 57%-owned by Romanian businessman Catalin Chelu.
The company reported a net profit of RON5.3 million in the first nine months, on total sales of RON94.6 million.
At around 11:50 hours, Electroarges traded up 14.98% at RON0.475 a share in Bucharest, amid a declining market.