Investment To Raise BGN 14 Mln In Cap ... BULGARIA: REIT Black Sea - Varna
Although the company is public, in practice, its stock doesn't trade because there is no free float of shares not owned by the majority equityholders. Another 50% are owned by Stefan Papalezov. The Black Sea Investment property portfolio features assets in Sofia, Plovdiv and the Kavarna area.Source: Dnevnik a.m. The current capital of the REIT stands at BGN 650 000. The minimum subscription target is 8 mln new shares with a nominal and issue price of BGN 1. The REIT, which paid out a record dividend of BGN 25.13 per share for 2006, is 38.5%-owned by Varna-based Investment Company. The rights from the capital raise will trade from April 14.
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