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La Seda Abandons Plans for Capital Increase

8:11 AM MDT | July 20, 2012

La Seda de Barcelona (El Prat de Llobregat, Spain), one of Europe’s largest polyethylene terephthalate (PET) bottle resin and packaging firms, says it has decided to render its recently announced €40-million ($49 million) share capital increase null and void “to protect its subscribers and minority shareholders.” The company had been planning to issue 40 million new ordinary shares with a subscription price of €1/share, but the total number of share-subscription applications it received was just 12.27...

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