The last 713 rights from the initial capital increase of ERG Capital 3 REIT changed hands in two transactions today. The total amount generated on the position stood at 1.94 mln leva (991 906 euros).

The company increased capital from 14 mln leva (7 158 086.3 euros) to 21 mln leva (10 737 129.5 euros) by offering of 700,000 shares with a face value of 10 leva and emission value of 20 leva.

The fund is currently planning the implementation of 5 projects - the Yavor project, Gerena, Sofia ring and Burgas retail project. The properties acquired by the company so far total 54 186 sq.m. and the fund is planning to acquire another 14 825 sq.m. over the next couple of years.

Bulgarian-American Investment Fund AD controls 70% of the capital and Frank Bauer, and Michael Hansberger have 7.86% and 7.50% respectively.

Secondary trade with the rights will continue under the code R2ERGGC3. Bids and asks are currently at 2.60 leva and 4.00 leva respectively.