April 12 (SeeNews) - Bulgarian Web Media Group [BUL:WMG] said that its capital increase to 7.84 million levs ($4.35 million/4 million euro) from 2.84 million levs has been formally concluded.
The issuance of 5 million new ordinary voting shares of 1.0 lev in par value each has been entered into the Commercial Register, Web Media Group said in a statement on Monday.
The company successfully completed the public offering of its shares at a price of 1.80 levs apiece on March 30, raising 9 million levs in total. The Bulgarian financial regulator approved Web Media Group's capital increase prospectus in mid-December 2021.
Web Media Group's shares last closed at 1.36 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data showed.
Web Media Group is majority owner of news website operators Web News BG and Infostock. The company runs the money.bg, news.bg, topsport.bg, lifestyle.bg and gladen.bg websites, while Infostock operates the infostock.bg financial news website.
In 2021, Web Media Group expanded into the radio market by acquiring the owner of music radio station Antenna.
(1 euro = 1.95583 levs)