The subscription of shares in the capital increase of Holding Railway Infrastructure ended June 27, the holding and the underwriter United Bulgarian Bank announced.

Investors placed orders for a total of 2,528,852 shares, passing the minimum required 2.5 mln shares. The placement price settled at 5 leva/share.

The holding raised a total of 12.64 mln leva (6.46 mln euros) through the procedure.

The company offered 5,583,411 new, common, paperless, voting shares in an IPO. Shares' par value was 1 lev.

The proportion between subscribed shares in limit and market orders is approximately 9.3%. Institutional investors made 2% of placed orders.

The holding's free-float will reach nearly 4.3%. The stock will be floated somewhere in mid-August 2008.

Payment starts July 1 and its deadline is July 3.

Holding Railway Infrastructure will use the funds to finance its investment program.