Russian baby food maker Nutritek is reportedly preparing a new share issue next year, the proceeds from which will be used to repay debt.
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Nutritek spokesman Yuri Kunashev told Reuters that the company will make the size of the issue public before an extraordinary shareholder meeting scheduled to vote on the issue on 11 March.
“We are planning to use the proceeds from the issue to redeem existing liabilities,” Kunashev told Reuters.
The company was unavailable for comment as just-food went to press.
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