All 10.9 mln unused rights issued as part of the capital raise operation of Advance Terrafund REIT changed hands in six deals on the Bulgarian Stock Exchange (BSE) today. The transactions were sealed at a price of 0.001 leva per right.

The deadline for the subscription of new shares is set for September 23. Each right allows the subscription of 1.5 new shares with 1.9 leva issue value.

Advance Terrafund currently owns 24,700 ha of arable land worth around 100 mln leva, or 2.27 leva per share.

Advance Terrafund has carried out four successful capital hikes since its establishment in 2005. The mandatory initial capital raise was carried out in August 2005 with 150,000 shares each with 1.00 leva par and issue value; the second capital raise was completed in October 2005 with the subscription of 10,400,000 shares with 1.00 leva par value each; the third capital increase was carried out in April 2006 with the subscription of 11,086,729 shares with 1.0 and 1.2 leva par and issue value each, respectively.

A total of 21,969,329 shares with 1.25 leva issue value each were sold during the fourth capital increase of the REIT in the end of 2007.