SOFIA (Bulgaria), July 27 (SeeNews) – The Financial Supervision Commission (FSC) said on Thursday it has rejected a prospectus for a capital increase of investment company Alpha Bulgaria.
The prospectus has been rejected because the decision for the capital hike, adopted at a general meeting of Alpha Bulgaria shareholders on June 26, is invalid due to a lack of quorum, the FSC said in its decision dated July 26 and published on its website.
Alpha Bulgaria’s prospectus envisaged increasing the company’s capital to 60.2 million levs from 1.2 million levs by issuing 59 million new shares with a nominal value of 1 ($0.60/0.51 euro) lev each, equal to their sale price.
The company said earlier it would consider the capital hike successful if at least 50 million new shares were subscribed for and fully paid for.
(1 euro = 1.95583 levs)