March 27 (SeeNews) - Bulgarian real estate investment trust (REIT) FairPlay Properties [BUL:FPP] started the process of increasing its capital by offering for subscription up to 74.09 million new shares to its warrant holders, the company said on Monday.
The new shares will be issued at a price of 1 lev ($0.55 /0.51 euro) apiece, equal to their par value, FairPlay Properties said in a bourse filing.
The capital increase was approved by FairPlay Properties’ board of directors last week.
Shares in the company last traded at 0.73 levs on the Bulgarian Stock Exchange, bourse data showed.
(1 euro = 1.95583 levs)