The Financial Supervision Commission (FSC) issued a license of operation to Agroenergy REIT today.

The Commission has given green light to the REIT's prospectus for the public offering of 18 million common shares with a par value of 1 lev and issuing price of 1.1 leva each. Agroenergy REIT will issue the shares within its initial capital increase procedures.

The REIT is founded by Venture Equity Bulgaria, controlling 65% of capital, institutional investor Alfa Index Property Fund, through Alfa Asset Management (30%), and two individual investors Yulian Belev and Nikolay Dobrilov (2.5% each).

The board of directors includes Svetoslav Bojilov (chairman), Danalil Kamenov (vice chair) and Paulina Halacheva (executive director).

Agroenergy will specialize in investments in agricultural land. The company is a unit of Venture Equity Bulgaria, which invests primarily in two sectors – agriculture and renewable energy sources.