February 10 (SeeNews) - The Bulgarian Stock Exchange (BSE) said that it has admitted to trading an issue of 6.93 million rights for the capital increase of real estate investment trust (REIT) Balkan and Sea Properties [BUL:BSP].
The REIT will offer for subscription 1.3 million shares at a par value of 1 lev ($0.55/0.51 euro) each and an issue price of 21.50 levs apiece, the BSE said in a statement on Thursday. Each right held will correspond to 0.187721 new shares.
The offering of the rights on the BSE will begin on February 15 and will close on February 23, with investors to be able to subscribe for shares from February 15 to March 15.
The capital will be increased if at least 800,000 of the offered shares are subscribed and paid for. Balkan and Sea Properties' equity capital of 6.93 million levs is divided into 6.93 million shares with a nominal value of 1 lev each, bourse data show.
Last week, the company said it expects net proceeds of up to 27.91 million levs from the offering of new shares, excluding costs.
Shares in Balkan and Sea Properties last traded at 21.921 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)