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Balkan and Sea Properties Seeks to Raise 24.35 Mln Leva

Balkan and Sea Properties REIT - Varna plans to raise its capital from 650 000 leva to 5.333 mln leva, the Bulgarian Stock Exchange (BSE) said.The REIT will issue a total of 650 000 rights each allowing the subscription of 7.2 new shares with 5.20 leva issue value.At least 325 000 new shares have to be subscribed in order for the capital increase to be rendered a success.The capital raise operation will be serviced by Central Cooperative bank.Balkan and Sea Properties REIT's stock was last traded on BSE on July 29 at a price of 5.20 leva per share.