(Alliance News) - High Quality Food Spa announced Wednesday that its board has resolved to increase its share capital.

In detail, an increase of EUR533,600 is reserved for Francesco Paltoni, who will hold 46 percent of HQF Agricola after the issuance of 456,068 new HQF shares at EUR1.17 each; another EUR3.0 million aucap is reserved for institutional investors and strategic partners, who will receive 2.7 million shares in the company at a unit price of EUR1.11.

Paltoni's capital increase is contingent on the subscription of the one reserved for institutional investors in an amount of at least EUR2.0 million.

HQF stock is up 1.9 percent at EUR1.08 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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