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Margebeli to Issue Additional Bonds for Finishing Construction of the Plant

Margebeli to Issue Additional Bonds for Finishing Construction of the Plant

JSC Margebeli has lack of funds for the construction of plant due to GEL devaluation with Swiss and Austrian Institutional Partners, which the company plans to cover by emission of additional shares.

As Avto Svimonishvili, founder of the holding has declared to GBC plans to mobilize over 2 million GEL by placement of shares, which may lack to the company during  the transfers. According to him, they should try to mobilize the sums from the mentioned shareholders, negotiations are still held on bringing of investors from Switzerland.

“We have already ordered devices, part of the sum is transferred and we do not hurry”, – the businessman declares.

The issue will be discussed  at the shareholders meeting on May 30. To remind, the company will build the plant jointly with Euro Bank, Swish and Austrian Institutional Partners. Investment of 50 million GEL will be implemented in total.