All 250,000 shares offered by Lomsko Pivo were placed in 21 deals on the very first day of the closed mixed auction. The stock was sold at 5.2 leva, which is 1.54 leva up from the average market value of the brewery's shares.

The company was planning а two day auction on June 5 and 6. The minimum bid was 3.8 leva and the maximum 5.32 leva.

The major shareholder has raised some 1.3 mln leva in the successful auction.

It emerged last week that at a meeting held May 27 the Board of directors adopted a decision to hike the company's capital from 4.5 mln (2.3 mln euros) to 6 mln leva (3.06 mln euros).

Lomsko Pivo will therefore issue 1.5 mln common paperless voting shares with a par value of 1 lev and issuing price at 3 leva apiece.

If all shares are subscribed and paid, the company will gain some 4.5 mln leva (2.3 mln euros).

The capital increase will be successful if at least 500,000 shares are placed.

The stock gained 3.68% and closed at 3.66 leva today at a turnover of 38,427 shares.

Photo by BGNES