October 28 (SeeNews) - Bulgarian real estate investment company Infinity Capital said that its capital increase via a new share issue was entered into the register of public companies on October 27.
Infinity Capital's registered capital now amounts to 1.45 million levs ($862,800/741,400 euro) divided into 1,454,883 ordinary shares with a par value of 1 lev each, the company said in a stock exchange filing on Wednesday.
The capital of the company amounted to 607,685 levs prior to the capital increase.
Earlier this month, Infinity Capital raised close to 1.36 million levs in an initial public offering (IPO) on the Sofia bourse's SME growth market BEAM. Investors subscribed and paid for a total of 847,198 company shares with a nominal value of 1 lev and an issue price of 1.60 levs each, Infinity Capital said at the time.
At the beginning of October, Infinity Capital said it will aim to raise up to 5.8 million levs from investors through an IPO on the BEAM market on October 18 and October 19 by offering up to 3,625,000 new shares with a nominal value of 1 lev and an issue price of 1.60 levs apiece. Infinity Capital also said back then that the IPO will be considered successful if at least 612,500 shares are subscribed and paid for.
Earlier this year, Infinity Capital said that the proceeds from its planned IPO will be used for the development of its project for the Aristocrat Hills residential complex near Sofia. The project envisages the construction of 13 luxury houses.
In a separate bourse filing published on Wednesday, Infinity Capital said that it already owns all land for the construction of the Aristocrat Hills project as a result of the signing of a final contract for the acquisition of 100% interest in Gurmazovo Hills, the owner of the Aristocrat Hills project, from local GD Capital Management AD.
Infinity Capital, set up in December 2019, is majority-owned by local GD Capital Management AD, property of private individual Georgi Dimitrov, according to the commercial register.
(1 euro = 1.95583 levs)