More Than 2.2 Mln Rights of Agro Finance REIT To Be Auctioned Off
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The unused rights issued as part of the capital raise operation of Agro Finance REIT (
) will be auctioned off on the Bulgarian Stock Exchange (BSE) on May 29.
A total of 2,209,830 unused rights will be offered at the auction, BSE said.
Agro Finance plans to double its capital through the issuing of 16.14 mln new shares. The capital of the REIT currently amounts to 16.14 mln leva.
The rights and the new shares are issued at a ratio of 1 to 1. The capital raise will be considered a success if at least one new share with 1 and 1.2 leva par and issue value, respectively, 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.
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