Bulgaria's Biodit starts sale of unexercised rights under cap hike

Biodit will offer 5.71 million rights, to which no shares have been subscribed, the Bulgarian Stock Exchange said in a notice on Tuesday.

Last month, Biodit said that it plans to increase its capital to 14.8 million levs ($7.59 million/7.57 million euro) from 13.8 million levs through a new share issue. The transaction will see Biodit issue up to 1 million new shares of 1 lev in par value each priced at 1.70 levs apiece.

Founded in 2009, Biodit develops technology for access control, time attendance monitoring and management of operations, with applications in healthcare, business and office centres, commercial and residential buildings, hospitality, banking and the automotive industry, among others.

(1 euro = 1.95583 levs)