The Financial Supervision Commission (FSC) issued an approval to the IPO prospectus of Universal Properties REIT (

).

The emission's value stands at 5.85 mln leva (2.991 mln euros), allocated in the same number of shares with a face and emission value of 1 lev, issued in the company's capital increase from 650,000 leva (332,339 euros) to 6.5 mln leva (3.323 mln euros).

The company seeks funds to purchase new properties and develop already acquired ones.

At the beginning of July the fund announced the acquisition of three properties in the village of Gorni Lozen, Sardina area, District of Sofia. The total area of all three parcels is 23,603 sq m, and the price tag - 165,221 leva ( 84,476 euros) in total.

The company's shares were last transacted on the BSE on 27 July at 30 leva/share. There have been a total of 5 deals with the stock this year, in which 26,030 lots changed hands, generating 779,675 leva (398,641 euros) on the position.