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Bulgaria's Smart Organic raises 10 mln euro in capital increase

Jun 24, 2024, 2:58:15 PMArticle by Mihaela Miteva
share
June 24 (SeeNews) - Bulgarian organic foods producer and distributor Smart Organic [BUL:SO] said on Monday that it raised some 19.6 million levs ($10.7 million/10 million euro) in a capital increase.

Bulgaria's Smart Organic raises 10 mln euro in capital increase
Image source: Smart Organic

Investors subscribed for 1.03 million shares between June 3 and June 21, Smart Organic said in a bourse filing.

The company launched the capital hike process last month, seeking to raise its capital by up to 1.03 million levs by offering the same amount of new voting shares with a par value of 1 lev each at an issue price of 19.00 levs apiece.

The raised funds will be used to complete the construction of Smart Organic's new production base near Sofia and could also go towards acquiring local and international companies in the organic food and beverage sector, the company said earlier.

As of 1347 CEST on Monday, shares in Smart Organic traded 3.48% higher at 23.80 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)

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