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Bulgaria's Far gets shareholders nod to seek 3.8 mln euro in cap hike

Author Mario Tanev
Bulgaria's Far gets shareholders nod to seek 3.8 mln euro in cap hike tanatat/Shutterstock.com

SOFIA (Bulgaria), September 10 (SeeNews) - Bulgarian agriculture company Far [BUL:5AF] said on Tuesday that it its shareholders have approved the company's plan to seek to raise up to 7.5 million levs ($4.2 million/3.8 million euro) via a new share issue.

Far intends to offer 2.5 million shares with a nominal value of 1 lev each at a price of 3 levs apiece, the company said in a statement.

The capital increase will be considered successful if at least 250,000 shares are subscribed for and paid for.

Currently, the company has a registered capital of 2.5 million levs.

Far listed on the Bulgarian Stock Exchange on July 1, without carrying out an initial public offering.

Far shares closed at a price of 4 levs apiece on the BSE on Monday.

(1 euro = 1.95583 levs)

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