February 15 (SeeNews) - Bulgaria's financial regulator said it approved a prospectus by local real estate investment trust Sopharma Buildings [BUL:SFB] for a capital increase through the issuance of up to 3.25 million new shares.
Sopharma Buildings will issue the ordinary, freely transferable voting shares with a par value of 1 lev each at a price of 1.86 levs apiece, the Financial Supervision Commission (FSC) said in a notice published on Tuesday.
You can subscribe to our M&A newsletter here
The regulator added that it has entered the share issue into its register of public companies.
Sopharma Buildings' shareholders include drug maker Sopharma, Sopharma CEO Ognyan Donev and his majority-owned firm Donev Investments. The company is listed on the BaSE segment of the Bulgarian Stock Exchange and its shares last traded at 6.50 levs apiece.
Sopharma Buildings received a nod from the management board for the share issuance in late December, with the aim of increasing its capital to to some 3.9 million levs ($2.13 million/1.99 million euro) from 649,990 levs.
(1 euro = 1.95583 levs)