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Bulgaria's Sopharma Trading shareholders approve cap hike

Bulgaria's Sopharma Trading shareholders approve cap hike Sopharma Trading/All rights reserved.

SOFIA (Bulgaria), July 22 (SeeNews) - Bulgaria's Sopharma Trading [BUL:SO5] said that its shareholders have endorsed the management's plans for a capital increase through a new share issue.

Sopharma Trading is planning to offer up to 1.4 million shares for subscription priced at 6.85 levs ($3.92/3.50 euro) each, in order to increase its capital to 34.3 million levs, the pharmaceuticals trading company said in a bourse filing. 

Elana Trading will sign an agreement with Sopharma Trading to act as an investment advisor. 

The capital hike will be considered successful if at least 1.0 million shares are subscribed and paid for. 

The company's capital currently amounts to 32.9 million levs, divided into the same number of shares.

Sopharma Trading is a unit of Bulgarian drug maker Sopharma [BUL:3JR].

(1 euro = 1.95583 levs)