June 18 (SeeNews) - The remaining 450,606 unexercised rights to subscribe for shares from local tobacco products manufacturer Slantse Stara Zagora Tabac's [BUL:3JO] ongoing capital increase will be auctioned on June 19, the Bulgarian Stock Exchange said on Tuesday.
Each right gives its holder the option to subscribe for 1.4 Slantse Stara Zagora Tabac shares at a price of 10.8 levs ($6.2/5.5 euro) per share, the stock exchange operator said in a notice.
Slantse Stara Zagora Tabac issued a total of 1,177,860 rights, offering 1.65 million shares for subscription at a price of 10.8 levs apiece.
The number of subscribed shares by existing shareholders exceeds the 825,000 shares threshold for considering the capital increase successful.
Slantse Stara Zagora Tabac's registered capital currently amounts 1.18 million levs.
The company's shares last traded on the Bulgarian Stock Exchange at a price of 10.8 levs apiece.
Last month, Slantse Stara Zagora Tabac's shareholders approved the company's plans to acquire a land plot of between six and eight hectares for up to 12 million levs, where it intends to build a new plant for tobacco products.
(1 euro = 1.95583 levs)