Bioton has reported that the management is going to propose, at the EGM, a new issue of 300m shares at an issue price of PLN 1, with rights for current shareholders. This would imply a capital increase of some 170% and the new shares would constitute 63% of the company's total capital. As there was speculation last week regarding the pricing of the issue, the confirmation is unlikely to impact the stock price. Given the market's favourable view on Bioton's investment strategy, to expand in Russia and Asia, the rights issue hasn't deterred bulls from buying the stock.