Bulgaria's Premium Property Invest raises 15 mln euro in cap hike

Warrant holders subscribed 26.5 million new company shares during April 29 - May 8, Premium Property Invest said in a stock exchange filing.

The company offered to its warrant holders up to some 42.47 million new shares with a par value of 1 lev apiece at an issue price of 1.10 levs each. The number of unexercised warrants following the capital hike amounts to nearly 15.97 million.

Premium Property Invest, formerly known as Green Industry Properties, issued last July a total of 44.2 million freely transferrable warrants, each giving their owner the right to subscribe for one new company share at a price of 1.10 levs in a future capital increase within five years.

The company last raised its capital in September, to some 3 million levs from 1.3 million levs, after 1.74 million new shares were issued in an exercise of warrants.

Shares in Premium Property Invest last traded on April 17 when they closed at 1.12 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)