Bulgaria's Elea Capital to hike capital

The new shares of 1 lev in par value each will be offered to the company's warrant holders at an issue price of 24.00 levs ($13.27/12.27 euro) apiece, Elea Capital said in a bourse filing.

If warrant holders do not exercise their rights now, they can subscribe for shares in future capital increases until the warrants expire, the company said.

Elea Capital issued in July 2.06 million warrants, each giving their owner the right to subscribe for one company share at 24 levs in a future capital increase within five years. The company last increased its capital in October when it raised 41.3 million levs through an exercise of warrants.

The company's equity capital is currently divided into some 1.82 million shares with a nominal value of 1 lev each, according to commercial register data.

Shares in Elea Capital last traded on November 22 when they closed at 26.00 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)