RWE AG (RWE.XE) Tuesday reiterated it will seek authorization from its annual general meeting to increase its capital stock by up to 20%.
In the invitation to its April 17 AGM, RWE, which is Germany's second-largest utility by market value behind E.ON AG (EOA.XE), says it intends to ask shareholders to authorize management to increase the capital stock by up to almost EUR288 million. The authorization would be valid until April 16, 2013.
RWE's capital stock currently stands at around EUR1.44 billion, a company spokeswoman said.
Chief Financial Officer Rolf Pohlig had previously said, on Feb. 22, that RWE would be seeking shareholder approval for a capital increase of up to 20%.