May 23 (SeeNews) - Bulgaria's Slantse Stara Zagora Tabac said that its shareholders have approved the company's plans to acquire a land plot of between six and eight hectares for up to 12 million levs ($6.9 million/6.1 million euro), where it intends to build a new plant for tobacco products.
Slantse Stara Zagora Tabac intends to acquire the land plot within the next 18 months, the company said in a statement last week.
The company is currently in the process of increasing its capital, seeking to raise up to 17.82 million levs.
The company's shares last traded on the Bulgarian Stock Exchange at a price of 10.8 levs apiece.
Slantse Stara Zagora Tabac is majority-owned by local diversified group Sila Holding [BUL:6S5], which owned 67.85% of the company at the end of 2018.
(1 euro = 1.95583 levs)