January 27 (SeeNews) - Bulgarian financial regulator said it approved a prospectus of local real estate investment trust (REIT) Balkan and Sea Properties [BUL:BSP] for the issuance of up to 1.3 million new shares at a price of 21.50 levs apiece, corresponding to a total value of up to 27.95 million levs ($15.54 million/14.29 million euro).
The shares will have a par value of 1 lev each, the Financial Supervision Commission (FSC) said in a decision dated January 26.
Balkan and Sea Properties' current equity capital of 6.93 million levs is divided into 6.93 million shares with par value of 1 lev each.
As at CET 0904 on Friday, shares in the company traded flat at 22 levs on the Bulgarian Stock Exchange.
Recently, Balkan and Sea Properties received shareholders’ approval for the proposed acquisition of local Balchik Lodzistik Park for up to 10.5 million levs.
(1 euro = 1.95583 levs)