Alpha Wood Bulgaria's Capital Raise Proceeds at 12.1 Mln Leva

The capital raise operation of Alfa Wood Bulgaria (

) was completed successfully on April 18, 2008, the Bulgarian Stock Exchange (BSE) said.

A total of 403,740 shares accounting for 97.58% of the total number of shares offered, were subscribed and paid. The company raised a total 12.112 mln leva (6.19 mln euros) from the capital increase. The shares were subscribed by one natural person and six legal entities.

Alfa Wood Bulgaria will use the proceedings from the capital raise to repay its debt to Enderby Services Limited and Alfa Wood A.E.B.E. Abd, as well as to invest in new technologies for rational use of energy resources and to close the production cycle.

Enderby Services Limited and Greece's Alfa Wood S.A. own 48.91% and 22.903% of the capital of Alfa Wood Bulgaria, respectively.

Alfa Wood Bulgaria's capital will increase from 206,870 leva (105,780 euros) to 610,610 leva (312,200 euros). A total of 50 shares in the company have changed hands so far today at a price of 24.95 leva (12.75 euros) apiece.