Nordic Fibreboard Approves Share Issue

Estonian wood-based panel producer Nordic Fibreboard has secured shareholder approval for a new share issue that could raise up to €2.5 million.

At an extraordinary general meeting on 3 November, shareholders approved a conditional capital increase allowing the company to issue up to 6.25 million new shares at €0.40 each.

Existing shareholders will have preferential subscription rights based on their holdings on 5 November. The subscription period will run from 6 to 27 November.

The company’s management board will determine the final number of shares issued. If the offering is not fully subscribed, the board may extend the subscription period or cancel the unsubscribed shares.

Shareholders also approved plans to seek admission of the new shares to the secondary list of the Nasdaq Tallinn Stock Exchange.

The decision authorises the capital raising but does not guarantee that the full €2.5 million will be secured.