EnglishFreight forwarder Navrom Galati plans to increase its share capital by 17.23 million RON (approximately 5 million EUR), to 34.46 million RON. Shareholders will discuss the capital increase in July. The company will issue 6.89 million shares with a face value of 2.50 RON.
In 2005, Navrom started a fleet modernization program, in order to comply with European technical and environmental standards. In order to finance the first stage of the program, which will be finalized in September 2007, the company contracted a 14 million EUR loan from the World Bank. The increase in share capital will ensure the necessary financial resources for the repayment of the loan.
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