Bulgarian REIT Arco Towers To Seek 1.9 Mln Euro in Capital Increase

The REIT plans to raise its nominal capital to 682,500 levs from 650,000 levs through the issue of 32,500 new shares with a par value of 1.0 lev and an issue price of 113 levs each, it said in a statement. It will consider the capital hike successful if at least 30,000 shares are subscribed for.

The company announced in July it would seek to raise 3.5 million levs in a capital hike, by issuing 32,500 new shares with a par value of 1.0 lev and an issue price of 108.15 levs each.

(1 euro = 1.95583 Bulgarian levs)