The last day for trade in the rights issued as part of the capital raise operation of Advance Terrafund REIT is set for tomorrow (August 27).

A total of 869,000 rights changed hands on the position today at prices of 0.005 and 0.006 leva apiece. A total of 16,463,291 rights, accounting for 37% of the total, have been transferred since the start of the secondary trade.

Advance Terrafund plans to raise its capital from 44.056 mln leva to 110.14 mln leva through the issuing of 66.084 mln new shares with 1.90 leva issue value each.

A total of 44.056 mln rights have been issued as part of the capital raise. The rights and the new shares were issued at a ratio of 1:1.5.

International Financial Corporation, the investment unit of the World Bank, has subscribed shares for 15 mln euros in the REIT, Advance Terrafund said yesterday. This means that the capital increase may be considered a success.

Advance Terrafund currently owns 23,800 ha of arable land and 13 ha of urban land worth over 99 mln leva.