February 28 (SeeNews) - Bulgarian real estate investment trust (REIT) Balkan and Sea Properties [BUL:BSP] will auction the unexercised rights under its capital increase on March 1, the Bulgarian Stock Exchange (BSE) [BUL:BSE] said on Tuesday.
Balkan and Sea Properties will offer 6,925,156 rights, to which no shares have been subscribed, the stock exchange operator said in a notice.
Orders can be placed between 1315 and 1345 local time on March 1, BSE added.
Earlier this month, the BSE announced that it had admitted to trading the issue of some 6.93 million rights for the REIT's capital hike, with each right held corresponding to 0.187721 new shares in the company. In the capital increase, Balkan and Sea Properties is offering up to 1.3 million new shares at 21.50 levs apiece, or a total price of 27.95 million levs ($15.08 million/14.29 million euro).
Shares in Balkan and Sea Properties last traded at 22.00 levs on the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)