Bulgaria's Balkan and Sea Properties to sell unexercised warrant rights

Balkan and Sea Properties will offer for sale some 4.81 million rights to which no warrants have been subscribed, BSE said in a notice.

Orders can be placed between 1315 and 1345 local time on June 12.

Last month, Balkan and Sea Properties said it kicked off its warrant issue, in which it is offering 3 million warrants at 0.001 levs ($0.0005/0.0005 euro) apiece. The warrants will give their holders the right to subscribe for Balkan and Sea Properties shares at 21.50 levs each within five years as part of future capital increases.

Each right held corresponds to 0.433203 new company warrants.

Shares in Balkan and Sea Properties last traded on May 31 when they closed at 23.00 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)