Sanitary Products Maker Septona Bulgaria Seeks 3.7 Mln Euro in Capital Hike

The company plans to issue 1,391,250 shares with a par value of 1.0 lev each and an issue price of 5.2 levs, it said in a statement.

The capital hike will be considered successful if at least half of the new shares are subscribed for. Septona Bulgaria's current capital comprises 1,233,650 stocks with a par value of 1.0 lev each.

Greece’s Septona holds an 87.97% stake in its Bulgarian subsidiary, which is based in the Danube port city of Ruse. Septona Bulgaria had a net profit of 918,000 levs in the first nine months of 2009, up 95% on the year.

No shares in Septona Bulgaria have traded since January when the company was listed on the Bulgarian Stock Exchange.

(1 euro = 1.95583 Bulgarian levs)