August 23 (SeeNews) - Bulgarian peer-to-peer (P2P) lending platform Klear Lending said that it will seek to raise up to 500,000 levs ($283,000/256,000 euro) via a new share issue.
Klear Lending will offer to existing shareholders 50,000 shares for subscription at a price of 10 levs apiece, equal to their nominal value, the company said in a commercial register filing on Thursday.
Shareholders can subscribe for new shares proportionally to their existing stake in the company.
Klear Lending currently has a registered capital of some 1.956 million levs.
Earlier this year, Germany's Varengold Bank said that it has agreed to acquire a 20% stake in Klear Lending. At the time, Varengold Bank said it will invest 1.5 million levs ($857,000/767,000 euro) in Klear Lending in the form of an equity investment and a loan which will be used to expand the platform's operations in Bulgaria and Southeast Europe (SEE). The German lender did not clarify what part of the total sum will be in the form of an equity investment and what part a loan.
Klear Lending narrowed its net loss to 338,000 levs in 2018 from 476,000 levs in 2017. The company booked 58,000 levs in revenue from services, and a net interest income of 19,000 levs in 2018.
(1 euro = 1.95583 levs)