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Dec 28, 2017 12:10 EEST
December 28 (SeeNews) - Bulgaria's financial regulator said it has approved the prospectus of financial leasing company Elana Agrocredit [BUL:0EA] for a capital increase through the issuance of 18.9 million shares.
Elana Agrocredit will issue the shares, with a nominal value of 1 lev each, at a price of 1.1 levs apiece ($0.67/0.56 euro), the Financial Supervision Commission said in a statement last week.
Last month, Elana Agrocredit shareholders approved a prospectus for increasing the company’s capital to 37.8 million levs from 18.9 million levs via a new share issue. The capital increase will be considered successful if at least 10 million shares are subscribed for and fully paid for.
In July, Elana Agrocredit shareholders authorised the board of directors to increase the company's capital by up to 100 million levs within the next five years.
(1 euro = 1.95583 levs)
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