August 24 (SeeNews) - Bulgarian real estate investment trust (REIT) Premium Property Invest [BUL:CITP], formerly known as Green Industry Properties, said on Thursday that its board of directors decided to raise the company’s capital through the issue of up to 44.2 million new voting shares.
The new shares will be offered to the company's warrant holders at an issue price of 1.10 levs ($0.61/0.56 euro) apiece and a par value of 1 lev each, Premium Property Invest said in a bourse filing.
Warrant holders who do not exercise their rights now can do so in future capital increases until the warrants expire, the company said.
Premium Property Invest issued in July a total of 44.2 million freely transferrable warrants, each giving their owner the right to subscribe for one share at 1.10 levs in a future capital increase of the company within five years of issuance.
The company's capital is currently divided into 1.3 million shares with a nominal value of 1 lev each, according to data from the commercial register.
Shares in Premium Property Invest last traded at 0.32 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)