Zywiec brewery issues shares for debt repayment

The management board of Browary Zywiec (BZ) has decided to increase it's share capital, issuing 4.5 million shares to its shareholders. The issue value, calculated according to the current stock exchange price, amounts to zl.800 million. The shareholders, Dutch Heineken and Harbin companies,are obliged to cover new shares in proportion to their share capital. Current share capital of BZ is divided into almost 7.4 million shares. Analysts are not surprised by BZ decision, as it is known that the brewery needs money for debt repayment. "Money from issuing will be used for repayment of short and long-term debts of the entire Zywiec group", Director of corporate issues of the Zywiec Group Krzysztof Rut said yesterday. (Gazeta Wyborcza, p. 30), M.T.