July 10 (SeeNews) - Bulgaria's Financial Supervision Commission said that it has approved the prospectus of local Capital Management REIT [BUL:5CQ], envisaging the issuance of 380,000 shares.
Capital Management REIT will seek to raise up to 22.23 million levs ($12.77 million/11.37 million euro) by offering the shares at a price of 58.5 levs apiece, the financial regulator said in a statement on Tuesday.
The shares have a nominal value of 1 lev each.
Capital Management REIT shares last traded on the Bulgarian Stock Exchange at a price of 58.5 levs.
The real estate investment trust currently has a registered capital of 1.378 million levs.
The capital increase will be considered successful if at least 190,000 shares are subscribed for and paid for.
(1 euro = 1.95583 levs)