Austria's Welde Planning to Hike Capital of Bulgarian Unit

Austria's Welde Planning to Hike Capital of Bulgarian Unit

Welde Bulgaria, a unit of Austrian wooden products manufacturer Welde Gesellschaft, said on Wednesday that it is planning to increase its capital to 1.38 million levs ($795,000/706,000 euro) from 404,634 levs through a new share issue. All 977,915 offered shares will be subscribed for by the company's sole owner - Austria's Welde, Welde Bulgaria said in an invitation for a shareholders meeting.The shares will be subscribed for at par value, according to the document.Welde produces plywood and hardboard and trades in timber and wood-based products. In Southeast Europe, it also operates in Romania and Serbia.Welde Bulgaria was delisted from the Bulgarian Stock Exchange in August 2017.

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