A total of 91,386 rights issued as part of the capital raise of Agro Finance REIT changed hands in two transactions on the Bulgarian Stock Exchange (BSE) today. The total value of the deals stood at 8,218 leva.

A total of 221,000 rights have traded hands so far in 3 transactions to a total value of 20,000 leva.

Agro Finance plans to double its issued capital to 32.28 mln leva through the issuing of 16.14 mln new shares. The number of rights also amounts to 16.14 mln.

The new shares and the rights were issued at a ratio of 1/1. The capital raise will be considered a success if at least one new share with 1 and 2 leva par and issue value, resepectively, gets subscribed and paid.

Agro Finance's experts forecast that the REIT will own 21,000 ha of land as at the end of 2008.