January 22, 2018 / 10:37 AM / 6 months ago

BRIEF-Selvita Plans Series H Share Issue In Q1

Jan 22 (Reuters) - SELVITA SA:

* PLANS TO OFFER UP TO 2.2 MILLION NEWLY ISSUED SERIES H SHARES AND EXPECTS TO RAISE UP TO 140 MILLION ZLOTYS NET, THE COMPANY SAYS IN A STATEMENT

* THE OFFERING IS PLANNED FOR Q1, SUBJECT TO THE MARKET SITUATION

* FUNDS RAISED WILL BE USED FOR THE DEVELOPMENT OF INNOVATIVE PROJECTS WITH A STRONG COMMERCIALIZATION POTENTIAL

* SELVITA PREDICTS THAT TOTAL FINANCIAL EXPENSES ASSOCIATED WITH ITS INVESTMENT PLANS FOR 2017-2021 WILL AMOUNT TO ABOUT 390 MILLION ZLOTYS

* CO PLANS TO RAISE 140 MLN ZLOTYS FROM INVESTORS, WITH THE REMINDER COMING FROM GRANTS AND OWN FUNDS

* IN SEPT. 2017, SELVITA FILED A PROSPECTUS FOR THE ISSUE OF UP TO 2.2 MLN SERIES H SHARES

Source text: bit.ly/2G71BhJ

Further company coverage: (Gdynia Newsroom)

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