Ursus issues new shares

Tractor producer Ursus has resolved on a new share issue not exceeding 18 million shares, half of which will be assumed by its main shareholder Pol Mot Holding, the company informed in a press release. The value of the issue will stand at around PLN 27 million. The money raised will be channeled into expansion of the production line of tractors of 120 horsepower and higher. The company expects that the investment will increase sales by 15 percent on the domestic market and by 30 percent abroad.