News Article Bulgaria investment REIT SEE
by Property Forum | Investment

Bulgarian real estate investment trust (REIT) Premium Property Invest, previously known as Green Industry Properties, has recently decided to bolster its financial position. The company's board of directors has officially approved a plan to increase its capital through the issuance of up to 44.2 million new voting shares. This strategic move is poised to shape the future trajectory of the company and potentially provide opportunities for


According to the details provided, the new shares will be offered exclusively to the company's warrant holders. Each of these new shares will carry an issue price of BGN1.1, equivalent to approximately $0.61 or €0.56, and a par value of BGN1 each.

Warrant holders who choose not to exercise their rights immediately will have the option to do so in future capital increases. Premium Property Invest has set a timeframe for warrant redemption, ensuring that these financial instruments retain their value for a specified duration. Warrants issued by the company in July, totalling 44.2 million, grant their owners the privilege to subscribe for one share at the price of BGN1.10 in a future capital increase of the company. These warrants will remain valid for a period of up to five years from the date of issuance.

Currently, Premium Property Invest's capital is divided into 1.3 million shares, each carrying a nominal value of BGN 1, as indicated in data from the commercial register. However, with this proposed capital expansion, the company is gearing up to substantially increase the total number of outstanding shares, potentially altering its ownership structure and financial outlook. According to recent bourse data, shares in Premium Property Invest were last traded at BGN0.32 levs on the BaSE market of the Bulgarian Stock Exchange.