SOFIA (Bulgaria), January 8 (SeeNews) – London-listed real estate investment company Black Sea Property said it plans to invest 3.5 million euro ($4.2 million) in a project on the Bulgarian Black Sea coast.
The company raised the funds through the placement of 352.8 new ordinary shares of nil par value at a price of 0.01 euro per share, London Stock Exchange-listed Black Sea Property said in a bourse filing.
Following the placement, the two biggest shareholders in Black Sea Property are Cyprus-based Mamferay Holdings and Bulgaria’s Neo London Capital [BUL:178B] with stakes of 29.76% and 29.31%, respectively.
Isle of Man-registered Black Sea Property’s main activities include the development, financing and sale of property in Bulgaria, including the prime areas of the country's Black Sea coast, the ski resorts and the capital, Sofia.
($ = 0.8340 euro)