Bulgaria's Elana Agrocredit land buy financing surges y/y in April

Elana Agrocredit financed the purchase of 50.6 hectares (ha) of land last month, up from some 14 ha a year earlier, the company said in a regular activity report on Monday.

Month-on-month, the value of deals soared 146% in April, from 588,642 levs in March, with the financed land volume jumping from 39.8 ha.

The financial leasing company agreed 22 land purchase financing deals last month, compared to 10 in the same month of 2023 and 8 in March.

Earlier this month, Elana Agrocredit said it launched a process to raise its capital to 54.9 million levs from 36.6 million levs via a new share issue.

Shares in Elana Agrocredit last traded on Monday when they closed at 1.09 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)