Bulgarian Financial Regulator Gives Green Light to FairPlay Agricultural Fund for Bourse Listing

The Financial Supervision Commission (FSC) will allow for trading of an issue of 4.0 million shares with par value of 1.0 lev ($0.74/0.54 euro) each and issue price in the range of 1.9 levs to 2.7 levs, the FSC said in a statement.

Officials of the fund owners were not immediately available to provide details.

Bulgarian real estate developer FairPlay International established the agricultural land investment fund with capital of 24 million levs in 2006. It invests in land around the northwestern Bulgarian towns of Vratsa and Vidin

The fund had planned to start trading its shares on the Bulgarian Stock Exchange in 2007, according to earlier statements.

FairPlay International holds a 88.89% stake in the fund and the remainder is held by individuals.

(1 euro = 1.95583 Bulgarian levs)