SOFIA (Bulgaria), October 27 (SeeNews) – Bulgaria's financial regulator said it has approved real estate investment trust Sopharma Properties' [BUL:6S6] investment prospectus for a new share issue worth 3.5 million levs ($2.3 million/1.8 million euro).
Sopharma Properties will issue 1,228,070 voting shares with a par value of 1.0 lev and an issue price of 2.87 levs apiece, the Financial Supervision Commission (FSC) said on Friday in a notice on its website.
The regulator also said it has entered the share issue into its register of public companies.
Sopharma Properties said last month its board decided to increase the company's capital by 7.9% to 16.94 million levs. The company said at the time that existing shareholders will have the right to subscribe for one share for each 12.79 shares they own. The capital hike will be considered successful if investors book orders for at least 614,035 shares.
In July Sopharma Properties abandoned plans to raise its capital after the financial regulator refused to approve its investment prospectus for an identical number of shares with an issue price of 2.85 levs.
Sopharma Properties is majority owned by local blue-chip drug maker Sopharma [BUL:3JR].
Sopharma Properties closed 0.75% higher at 5.4 levs in a volume of 1,573 shares on the Sofia stock exchange on Friday.
(1 euro = 1.95583 Bulgarian levs)