March 27 (SeeNews) - Bulgaria's Elana Agricultural Land Fund REIT [BUL:6ST] said that current shareholders have subscribed for 44,420 shares in the first stage of its ongoing capital increase, crossing the minimum threshold for considering the capital hike successful, of 40,000 shares.
The remaining unexercised rights will be auctioned on the Bulgarian Stock Exchange on April 1, Elana Agricultural Land Fund REIT said in a statement.
The company is offering a total of 50,000 shares for subscription at a price of 9.45 levs ($5.33/4.83 euro) apiece.
Elana Agricultural Land Fund REIT shares last traded on the Bulgarian Stock Exchange at a price of 0.35 levs apiece.
Elana Agricultural Land Fund REIT currently has a registered capital of 650,000 levs.
(1 euro = 1.95583 levs)