December 27 (SeeNews) - Bulgaria's Bravo Property Fund REIT [BUL:BPY] said that it will seek to raise 36.4 million levs ($21.2 million/18.6 million euro) in a capital increase.
Bravo Property Fund REIT will offer for subscription 36.4 million shares for subscription at a price of 1 lev each, the real estate investment trust said in a statement last week.
The capital increase will be considered successful if at least 36 million shares are subscribed for and paid for.
Bravo Property Fund REIT's capital currently amounts to 650,000 levs.
Earlier this year, Bravo Property Fund REIT increased its capital from 500,000 levs to 650,000 levs via a new share issue.
The REIT's shares started trading on the Bulgarian Stock Exchange in August. Bravo Property Fund REIT shares last traded on the exchange at a price of 1.03 levs apiece.
(1 euro = 1.95583 levs)