Bulgaria's Real Bulland raises 1.2 mln euro in capital hike

Nine investors, including two individuals, subscribed for some 2.03 company shares by December 1, Real Bulland said in a bourse filing.

Real Bulland offered for subscription 6.02 million new voting shares at an issue price of 1.20 levs each and par value of 1 lev apiece, seeking to increase its capital from 6.02 million levs to 12.04 million levs.

The company intends to use the funds to expand its investment portfolio of agricultural land and other real estate, it said earlier.

Shares in Real Bulland last traded on November 7 when they closed at 1.10 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)