Mostostal Z shareholders approve bonds .  WARSAW 1996-08-26  Shareholders of the Polish construction firm Mostostal Zabrze Holding SA approved a 25- million-zloty , five-year convertible issue with a par value of 100 zlotys each , the company 's spokesman said on Monday .  Piotr Grabowski told Reuters that a Mostostal extraordinary shareholders meeting on Saturday had decided that the price of the 250,000 bonds would be set as a 10-session average price of Mostostal shares plus a premium .  " The premium will be no lower than 15 percent and will be set by management before the issue ...  which we expect at the beginning of next year , " Grabowksi said . [START_ENT] Mostostal [END_ENT] , based in southern Poland , wants to offer the bonds to large investors in a public offering , paying an annual coupon of no more than 80 percent of the yield of the benchmark 52-week T-bill .  The firm has signed an agreement with the Polish Development Bank ( PBR ) to manage the issue and plans them to be listed on the Warsaw bourse 's bond market .  Grabowski also said shareholders approved the issue of 1.6 million shares for which the bonds could be exchanged , a ratio of 6.4 shares per bond .  He also said shareholders approved the issue of 2.6 million new shares , two million of which are earmarked for large investors and 600,000 for retail domestic investors .  The price will be determined through book-building .  Mostostal plans to use the proceeds from the issues to add companies to its holding and modernise its plant .  -- Warsaw Newsroom +48 22 653 9700
Mostostal Z shareholders approve bonds .  WARSAW 1996-08-26  Shareholders of the Polish construction firm Mostostal Zabrze Holding SA approved a 25- million-zloty , five-year convertible issue with a par value of 100 zlotys each , the company 's spokesman said on Monday .  Piotr Grabowski told Reuters that a Mostostal extraordinary shareholders meeting on Saturday had decided that the price of the 250,000 bonds would be set as a 10-session average price of Mostostal shares plus a premium .  " The premium will be no lower than 15 percent and will be set by management before the issue ...  which we expect at the beginning of next year , " Grabowksi said .
Mostostal
, based in southern Poland , wants to offer the bonds to large investors in a public offering , paying an annual coupon of no more than 80 percent of the yield of the benchmark 52-week T-bill .  The firm has signed an agreement with the Polish Development Bank ( PBR ) to manage the issue and plans them to be listed on the Warsaw bourse 's bond market .  Grabowski also said shareholders approved the issue of 1.6 million shares for which the bonds could be exchanged , a ratio of 6.4 shares per bond .  He also said shareholders approved the issue of 2.6 million new shares , two million of which are earmarked for large investors and 600,000 for retail domestic investors .  The price will be determined through book-building .  Mostostal plans to use the proceeds from the issues to add companies to its holding and modernise its plant .  -- Warsaw Newsroom +48 22 653 9700
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