November 28 (SeeNews) - Bulgarian poultry producer Gradus [BUL:GR6] said on Wednesday that its unit Gradus-1 has signed an agreement, in accordance to which it will receive a 1.5 million levs ($866,000/767,000 euro) grant from the Rural Development Programme 2014-2020, co-financed by the European Agricultural Fund for Rural Development.
Gradus-1's project relates to investments in processing/marketing of agricultural products, Gradus said in a bourse filing.
The company did not provide further details.
As at 13:35 CET on Wednesday, Gradus shares traded 1.27% lower at 1.55 levs.
In June, Gradus raised 81.4 million levs ($47.6 million/41.6 million euro) in a two-day initial public offering (IPO) on the Sofia bourse. Investors subscribed for 45.2 million Gradus shares, or 81% of the total number of offered shares, at a price of 1.8 levs apiece, making it the biggest IPO on the Bulgarian Stock Exchange since 2007.
The company's shares started trading on the Sofia bourse on August 6.
(1 euro = 1.95583 levs)