CME announced yesterday its intention to issue 2.2m new shares with an option to sell additional 330k shares in order to raise capital in the amount of up to USD 172.5m (in the case of full dilution). New share issue represents 6.38% increase of the current total share number 39,197,527 (fully diluted). Shares will be introduced to US as well as Czech institutional investors, but need to be approved by Czech Security Commission. There has not been any specific purpose stated. From short term point of view it might be negative as there will be oversupply on the market but should the raised capital be used for further acquisition and consolidation in the region we see it positively and reiterate our Buy recommendation.