Bulgaria's Bianor gets clearance for capital increase

Bianor will issue the ordinary voting shares with a par value of 1 lev ($0.55/0.51 euro) apiece at a price of 3.70 levs each, the regulator said in a decision published on Tuesday.

The funds raised will be used to expand Bianor's portfolio of companies providing software services, the group said earlier.

The new share issue, a subject of an initial public offering, has been entered into the register of public companies and other issuers of securities, the FSC added.

Bianor's equity capital is currently divided into some 6.88 million shares with a nominal value of 1 lev apiece, according to the commercial register.

As of 1400 CET on Wednesday, shares in Bianor traded 0.49% lower at 4.06 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)