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Sofia bourse admits to trading Infinity Capital's rights issue

Sofia bourse admits to trading Infinity Capital's rights issue Author: Bulgarian Stock Exchange / All rights reserved.

SOFIA (Bulgaria), October 21 (SeeNews) - The Bulgarian Stock Exchange (BSE) has admitted to trading a temporary issue of 847,198 rights on subscribed shares from the initial public offering (IPO) of local real estate investment company Infinity Capital, the company said on Thursday.

Each right gives investors the option to subscribe for one Infinity Capital share at a price of 1.60 levs ($0.95/0.82 euro) apiece, Infinity said in a statement.

Trading in the rights issue is scheduled to start on October 22. The rights issue will trade until the company's capital increase is entered into the commercial register, the company said.

Earlier this week, Infinity Capital said it raised close to 1.36 million levs in an initial public offering (IPO) on the Sofia bourse's BEAM growth market on October 18. Investors subscribed and paid for a total of 847,198 company shares with a nominal value of 1 lev and an issue price of 1.60 levs each. As a result of the IPO, the company's capital will rise to over 1.4 million levs, divided into 1,454,883 shares of 1 lev in par value each, the company said at the time.

According to commercial register data, the capital of the real estate investment company currently amounts to 607,685 levs divided into the same number of shares.

Earlier this month, Infinity Capital said it will aim to raise up to 5.8 million levs from investors through an IPO on the BEAM market by offering up to 3,625,000 new shares with a nominal value of 1 lev and an issue price of 1.60 levs apiece. Infinity Capital also said back then that the IPO will be considered successful if at least 612,500 shares are subscribed and paid for.

Infinity Capital, set up in December 2019, is majority-owned by local GD Capital Management AD, property of private individual Georgi Dimitrov, according to the commercial register.

(1 euro = 1.95583 levs)

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