Elektrim expected to raise capital through share exchange deal with Optimus

Optimus S.A. and Elektrim S.A. are expected to exchange shares, but as yet the parity is unknown. It is also unclear where Elektrim will get the $250 million it needs to aquire Optimus' shares. Elektrim wants to increase its capital, so the whole transaction will not involve hard cash. BRE, Optimus' investor, and Zbigniew Jakubas want 7:1 parity for one share of Optimus," a spokesman said. The current market value of both companies suggests that a 3.4:1 split would be fair. Elektrim should get about 54% from the deal. Elektrim is expected to invest in the new technology sector. Further capital will be raised by issuing Global Deposit Receipts (GDRs) abroad. (Puls Biznesu, page 1, 4) M.M.