Porr Urgently Needs New Capital
The Austrian construction company wants to strengthen its equity base, which shrank to 15%. In 2010, the quota stood at 22%.
After the huge loss of € 72.2m in 2011, Porr wants to improve its equity capital situation. As a first step, no dividend will be distributed to the shareholders. Moreover, a capital increase is planned. Porr´s management is allowed to raise capital of € 30m on its own. However, Porr´s capital should be increased by substantially more than € 30m.
Furthermore, Porr will…