December 14 (SeeNews) - Bulgarian investment company Alpha Bulgaria [BUL:ALFB] said it decided to raise its capital by issuing up to 177.75 million new common shares.
The shares will be offered to the company's warrant holders at an issue price equal to their par value of 1 lev ($0.55/0.51 euro) apiece, Alpha Bulgaria said in a bourse filing on Wednesday.
If warrant holders do not exercise their rights now, they can subscribe for shares in future capital increases until the warrants expire, the company said.
First Financial Brokerage House will act as investment intermediary.
Alpha Bulgaria issued a total of 194.89 million warrants, each allowing its owner to subscribe for one company share at a price of 1 lev within five years. The company last increased its capital in October when it raised 13.82 million levs through an exercise of warrants.
The company's equity capital is currently divided into some 18.32 million shares with a par value of 1 lev each.
Shares in Alpha Bulgaria last traded at 1.84 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)