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Bulgaria's Smart Organic to sell unexercised cap hike rights

Jun 13, 2024, 3:03:17 PMArticle by Mihaela Miteva
share
June 13 (SeeNews) - Bulgarian organic foods producer and distributor Smart Organic [BUL:SO] will auction on June 14 the unexercised rights for its capital increase, the Bulgarian Stock Exchange (BSE) said on Thursday.

Bulgaria's Smart Organic to sell unexercised cap hike rights
Image source: Smart Organic

Smart Organic will offer for sale 175,505 rights, to which no shares have been subscribed, the BSE said in a statement.

Orders for the unexercised rights can be placed between 1315 and 1345 local time on June 14.

Last month, Smart Organic launched its capital hike process, in which it is offering some 1.03 million new ordinary voting shares at 19.00 levs ($10.46/9.71 euro) apiece. Each ten rights held correspond to one new company share.

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 1350 CEST on Thursday, shares in Smart Organic traded 6.48% higher at 23.00 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)

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