November 19 (SeeNews) - Bulgarian real estate investment trust (REIT) FairPlay Properties [BUL:FPP] will increase its capital by 3.4 million levs ($2.0 million/1.7 million euro), it said.
Investors exercised 3,400,000 warrants giving them the right to subscribe for the same number of shares from the company's capital increase, FairPlay Properties REIT said in a bourse filing on Thursday, upon completion of the share subscription process on November 16.
In August, the REIT said that it has successfully increased its capital by 12.5 million levs to 45.6 million levs. As a result of the exercise of rights under a warrants issue investors subscribed and paid for 12,500,000 new ordinary shares from the company's capital increase, FairPlay Properties REIT said at the time.
FairPlay Properties REIT said earlier this year that it will offer investors up to 232,017,800 ordinary shares with voting rights of 1 lev in par value each provided that the shares are subscribed by the holders of warrants. The offering will be considered successful regardless of the number of subscribed shares, the company said back then.
As at 10:38 CET on Friday, FairPlay Properties shares traded flat at 0.71 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)