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Bulgaria's Elana Agricultural Land Fund REIT plans cap hike

Author Mario Tanev
Bulgaria's Elana Agricultural Land Fund REIT plans cap hike Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

SOFIA (Bulgaria), January 17 (SeeNews) - Bulgaria's Elana Agricultural Land Fund REIT [BUL:6ST] said that it will seek to raise 472,500 levs ($268,800/241,600 euro) in a capital increase. 

Elana Agricultural Land Fund REIT will offer 50,000 shares for subscription at a price of 9.45 levs apiece, the company said in a statement earlier this week.

The capital increase will be considered successful if at least 40,000 shares are subscribed for and paid for.

The company currently has a registered capital of 650,000 levs.

Also this week, Elana Agricultural Land Fund REIT said that it has signed a preliminary deal to sell a property in Sofia to Elana Holding for 200,000 levs. The deal is expected to be finalised in the first quarter of the year.

(1 euro = 1.95583 levs)

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