The trust increased its capital by the required minimum of 30% to 650,000 leva via the issuance of 150,000 new ordinary paperless voting shares with a face value of 1 lev each.
A total of 12 persons took part in the capital increase (10 individuals and 2 legal persons).
Total public offering costs stood at 4,750 leva.
Serdika Properties REIT plans to buy and let out two office buildings in Sofia.
The company’s registration document shows the buildings will be near the Vitosha Blvd. and their total built-up area will be 4,500 sq m and 5,500 sq m. The acquisition price will be 4.5 mln euro and 5.5 mln euro or 1000 euro/sq m.
In the next 24 months the trust plans to finance its operations using funds attracted via the initial capital increase (to 650,000 leva) and another capital increase to 20 mln leva slated by mid-2007.