UWC will conduct additional share issue to reduce debt

UWC plans in fourth quarter of 2023 to issue additional shares to reduce its debt. Company is negotiating debt restructuring with partial repayment with its main creditor and largest shareholder - Trust Bank, and has also convened a shareholders' meeting on September 12 to make a decision on placement of 12.5 billion additional shares by public subscription. Price of the placement has not yet been set. At the end of June 2023, OVC had a net debt of ₽64.6 billion.