August 26 (SeeNews) - Bulgarian real estate group 235 Holdings [BUL:94G] said on Monday that it has set up two new wholly-owned subsidiaries - Grand Dome Projects and First Place Projects.
The two new companies were registered in relation to the company's plans for investments in a construction project on a piece of real estate, recently acquired by 235 Holdings' unit 235 Developments, 235 Holdings said in a bourse filing.
Earlier this year, 235 Developments acquired two land plots in the Malinova dolina residential complex in Sofia, with a total area of 8,054 sq. m. The price of the transaction was not disclosed.
Shortly after the acquisition, 235 Developments received a 604,000 levs ($343,000/309,000 euro) loan from private investor Tenyo Latev.
Last month, 235 Holdings said that it will seek to raise some 12.77 million levs in a capital increase via a new share issue.
(1 euro = 1.95583 levs)