Alum Tulcea Ups Capital To RON491.4M

04.27.2011 By Florentina Dragu

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.

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)