June 5 (SeeNews) - Bulgarian pharmaceuticals producer Sopharma [BUL:SFA] said on Monday that its warrant holders will seek approval from the company's board for a new capital increase after a proposed exercise of warrants was endorsed.
Warrant holders gave the green light to the exercise of warrants during a meeting held on June 2, Sopharma said in a bourse filing.
The proposed capital increase will comprise 44,925,943 new voting shares with a par value of 1 lev ($0.55/0.51 euro) each and an issue price of 4.13 levs apiece, only available for subscription to warrant holders.
Last year, Sopharma issued 44,925,943 warrants, giving their owners the right to subscribe for one share at 4.13 levs in a future capital increase within three years of issuance, according to an earlier statement by the Financial Supervision Commission.
As of 1520 CET on Monday, shares in Sopharma traded 1.31% higher at 6.18 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)