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Nov 06, 2023 11:30 EEST
November 6 (SeeNews) - Bulgarian agricultural land investment trust Real Bulland [BUL:RBL] said it has decided to increase its equity capital to up to 12.04 million levs ($6.59 million/6.16 million euro) from 6.02 million levs through a new share issue.
The company plans to offer up to 6.02 million new ordinary voting shares of 1 lev in par value each, priced at 1.20 levs apiece, Real Bulland said in a bourse filing last week.
You can download the 2023 Agriculture industry in Southeast Europe report here
The capital increase will be considered successful if no fewer than 1 million new shares are subscribed and paid for between November 9 and December 1.
Current shareholders and those who purchase existing shares within five business days of the capital hike notice being published will receive rights to subscribe for new shares, with each right corresponding to one new share in the company.
Real Bulland stands to make some 7.2 million levs in net proceeds if all the offered shares are subscribed for. The company plans to use the funds to expand its investment portfolio of agricultural land and other real estate, as well as for working capital, the filing added.
Shares in Real Bulland last traded at 1.20 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)
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