Ukrainian sugar refinery Parkhomivka has issued supplementary shares to increase its statutory capital by UAH4.755m to UAH7.585m (US$1.42m).

The State Commission for Securities and the Stock Market announced that supplementary shares with a nominal value of UAH0.67 each were issued during indexation of the sugar refinery’s capital assets. Ukrsibbank holds a majority stake in the refinery, reported Ukrainian News.

The factory has been cutting its sugar output over the last few years, and produced 5,600 tons from its 2001 sugar beet harvest, revealing a drop in output over more than 30% on 2000. This followed a drop in output in 2000 by 4,800 tons or 33.6% to 9,500 tons. As the sugar refinery’s capacity is 1,750 tons of beet per day, these figures reveal the extent to which production has been hit.