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Bulgaria's Far planning to double capital via new share issue

Author Mario Tanev
Bulgaria's Far planning to double capital via new share issue tanatat/Shutterstock.com

SOFIA (Bulgaria), September 3 (SeeNews) - Bulgarian agriculture company Far [BUL:5AF] said on Tuesday that it is seeking the approval of its shareholders to seek to double its registered capital to 5 million levs ($2.8 million/2.6 million euro) via a new share issue.

Far intends to offer 2.5 million shares at a price of between 2 levs and 4 levs apiece, the company said in a bourse filing.

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

The company's shareholders will vote on the proposal at a meeting scheduled for September 9.

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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