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SOFIA (Bulgaria), November 29 (SeeNews) - Bulgaria's Financial Supervision Commission said that it has approved the prospectus of local agriculture company Far [BUL:5AF] for a capital increase via a new share issue.
Far is seeking to raise up to 7.5 million levs ($4.2 million/3.8 million euro) by offering 2.5 million shares for subscription at a price of 3 levs apiece, the regulator said in a statement on Thursday.
The capital increase will be considered successful if at least 250,000 shares are subscribed for and paid for.
If the issue is fully subscribed, Far will double its capital to 5 million levs from 2.5 million levs currently.
Far listed on the Bulgarian Stock Exchange on July 1, without carrying out an initial public offering.
Far shares last traded on the Bulgarian Stock Exchange at a price of 3.5 levs.
(1 euro = 1.95583 levs)