December 15 (SeeNews) - Bulgarian software and IT services group Bianor Holding [BUL:BNR] said on Friday that its board has decided to raise the company's equity capital to up to 12.36 million levs ($6.9 million/6.3 million euro) from some 6.88 million levs through a new share issuance.
The company will offer up to 5.48 million new voting shares of 1 lev in par value each, priced at 3.70 levs apiece, Bianor said in a bourse filing.
Current shareholders will receive rights to subscribe for new shares, proportionate to the stake they hold in the company, with 1.254 rights corresponding to one new share.
The capital increase will be considered successful if no fewer than 360,000 new shares are subscribed and paid for. The company stands to make some 20.3 million levs in gross proceeds if all offered shares are subscribed.
The raised funds will be deployed to expand Bianor's portfolio of companies providing software services.
Earlier this week, Bianor said it finalised the acquisition of full ownership of local IT infrastructure provider GoToAdmins Group and that it acquired local software company Bulbera.
As of 1128 CET on Friday, shares in Bianor traded 6.13% higher at 4.50 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)