June 26 (SeeNews) - Bulgaria's Capman Green Energy Fund [BUL:C4P] said that its shareholders have approved the company's plans to seek to raise up to 23.4 million levs ($13.3 million/12.0 million euro) in a capital increase in order to fund acquisitions.
Capman Green Energy Fund will offer 17,336,6301 new shares for subscription at a price of 1.35 levs apiece, the company said in a bourse filing on Tuesday.
If the issue is fully subscribed, Capman Green Energy Fund will increase its capital to 30.67 million levs from 13.34 million levs.
The capital increase will be considered successful if at least half of the offered shares are subscribed for and paid for.
Earlier this year, the company said it intends to invest the proceeds of the capital increase in acquisitions of companies engaged in the construction or operation of renewable energy projects.
In December last year, Capman Green Energy Fund signed a deal to acquire 100% of renewable energy company Sevko Bulgaria from local diversified group Holding Nov Vek [BUL:6N3] for an undisclosed price. Sevko Bulgaria was subsequently renamed to Solar Logistic.
(1 euro = 1.95583 levs)