The Latvian Privatisation Agency recently ruled to capitalise the 1,127,238 lat debt of the Valmiera Fibreglass Factory to the state. The Latvian Central Depository has registered the first issue of t…
The Latvian Privatisation Agency recently ruled to capitalise the 1,127,238 lat debt of the Valmiera Fibreglass Factory to the state. The Latvian Central Depository has registered the first issue of the company“s shares: 11,494,250 shares at a nominal value of 1 lat. The company“s shareholders will decide on 19 April whether to increase its share capital and confirm the 1996 financial statement and the 1997 budget plan. The audited net profit of Valmiera Fibreglass was 165,000 lats in 1996. No dividend payment is planned. The company“s shares are quoted on the second list of the Riga Stock Exchange. A 23% share in the company was sold publicly for privatisation vouchers. A 49% stake is held by the German firm Glass Eiden GmbH.