Capital Markets Board CMB approved the 600 percent free capital increase of domestic cement producer Çimsa Çimento (CIMSA). With this decision, Çimsa Cement will significantly increase its capital by making a free capital increase from its internal resources.
The company will increase its current capital by 600% from 135,084,442 TL to 945,591,094 TL. With this increase, the existing shares of the shareholders will be converted into more shares as a result of the new bonus share distribution. The investor who owns 1 CIMSA will own 7 shares after the free split.
Within the scope of the free capital increase, a total of 81,050,665,200 bearer shares, each with a nominal value of 1 (One) Kurus, will be distributed free of charge to existing shareholders in proportion to the shares they hold.
Çimsa Cement will use its internal resources to finance this capital increase. The capital increase amounting to 810,506,652 TL in total will be covered from the Other Capital Reserves account in the financial statements prepared in accordance with the Tax Procedure Law and from the Retained Earnings account in the financial statements prepared in accordance with TMS/TFRS in accordance with the capital markets legislation.
CIMSA Price
Following Çimsa’s decision for free capital increase, CIMSA share price is following a positive trend. Borsa Istanbul index BIST 100 has lost 0.5% value since the beginning of the day. Shares of cement producers gained 6.45% in value.
The stock is currently changing hands at 260.9 TL.