Fair Play Properties Increases Capital from 50.7 Mln Leva To 60.84 Mln Leva

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The Board of Directors in Fair Play Properties REIT has adopted a decision to increase capital from 50.7 Mln Leva (25.922 mln euros) to 60.84 Mln Leva (31.016 mln euros), BSE reports.

The company will issue 10.14 mln new shares with a face value of 1 leva and issue value of 2.25 leva for the purpose. Investors shall receive one right per each share they own, five rights entitling to the subscription of 1 new share.

The increase will ensure enough money to fund the new projects and the issue price has been calculated so as not to dilute capital. Capman is underwriter of the issue.

The company's assets stand at 82.691 mln leva (42.280 mln euros) on September 30, and its market capitalization is in the amount of 111.540 mln leva (57.030 mln euros). So far the company has developed two projects in Sozopol, and one in Chernomoretz, Bansko and Panichishte.

Shares were traded at levels between 2.18 leva and 2.25 leva this morning.

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