1.47 mln rights (3.34%) in Advance Terrafund REIT changed hands in seven transactions today. The rights entitle to subscription of new shares issued in the fund's capital increase. The price stood at 0.005 leva today.

Trade will continue till 27 August (Wednesday) and the auction for unused rights will be held 5 September.

The fund plans to hike capital from 44 mln to 110 mln leva (56.2 mln euros) by issuing 44 mln rights, each of which entitles to subscription of 1.5 new shares at an issuing price of 1.90 leva.

Advance Terrafund owns land worth a total of 100 mln leva (51 mln euros). The portfolio consists of 75% agricultural land and 25% urban plots.

Te company invests primarily in arable land – 99% of the plots in the portfolio belong to categories 1 – 6 (on a scale of 1 – 10 , where 1 one is the most fertile) and in areas where it has established good relations with renters.

At the end of July 2008 Advance Terrfaund controlled a total of 243,000 decares of agricultural land. The average acquisition price in May stood at 359 leva/decare and the average for the portfolio is at 230 leva (adjusted for all acquisition costs).