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Bulgarian financial regulator asks Far to fix cap hike prospectus

Author Mario Tanev
Bulgarian financial regulator asks Far to fix cap hike prospectus Financial Supervision Commission/All rights reserved.

SOFIA (Bulgaria), November 13 (SeeNews) - Bulgaria's Financial Supervision Commission said that it has asked local agriculture company Far [BUL:5AF] to provide additional information and documents regarding its request for approval of a capital increase prospectus.

The regulator did not provide further details in its statement, published on Tuesday.

This is the second time the regulator asks the company to fix its prospectus, after it also did so last month.

In September, Far said that its shareholders have approved the company's plan to seek 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 capital increase will be considered successful if at least 250,000 shares are subscribed for and paid for.

Currently, the company has a registered capital of 2.5 million levs.

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)