Gdynia Shipyard looks to double its share capital

Gdynia Shipyard directors are trying to convince shareholders to allow the company to increase its share capital by zł. 120 million, to top zł. 320 million. Next week shareholders will make a decision about lowering the share capital of the firm and at the same time increasing it. The whole operation would be carried out in tranches with the first one amounting to zł. 65 million. The new shares would be taken over by the state. "The direct participation of the State Treasury is being considered, but the final decision has not yet been made. It depends on the results of the Friday meeting of the state Public Aid Commission," said Deputy Treasury Minister Ignacy Bochenek. What is interesting is that the state will increase the shipyard's capital with cash from the funds for restructuring large companies. Earlier, the Industrial Development Agency (ARP) was invited to participate in the operation, but other shareholders were not in favor of the ARP entering the shipyard and the Agency was not willing to take over the shares. (Puls Biznesu, pp. 1, 7) M.M.