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. Last Updated: 07/27/2016

Insurer to Raise Capital

MOSCOW -- A medium-sized Russian insurance company, East-European Insurance Agency, said Tuesday it plans to increase its charter capital 10 times in 2000 by issuing shares worth 270 million rubles ($9.4 million).

The company's board of directors approved Feb. 4 a plan to issue 270 million ordinary shares with a nominal value of 1 ruble by the end of 2000, or at best in the first half of the year.

The charter capital would rise to 300 million rubles from 30 million rubles now, a company spokesman said.

The company's main shareholders are Russian food producing factories and export and import firms.