New bailout attempt – Government will buy Railways shares worth EUR 15.7 million

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Railways of the Republic of Macedonia – Transport AD Skopje will release the fourth issue of shares through a private offer. Approval has been received from the Securities and Exchange Commission.

Up to 962,913 common shares will be issued. At the same time, the selling price is equal to the nominal price and amounts to MKD 1,000 per share. The total sales value of the issue is MKD 962,913,000 or almost EUR 15.7 million. Issuance of the securities is in function of increasing the share capital, as stated in the announcement from the SEC, in order to create conditions for smooth functioning. The private offer is intended for a known buyer, that is, for the sole shareholder – the Government. Railways Transport is the largest state debtor, with overdue and unpaid liabilities of over EUR 65 million.

 

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