Bulgaria capitals

Bulgarian HR Capital completes €3.1m cap increase

SOFIA (Bulgaria), August 17 (SeeNews) – Bulgarian investment company HR Capital [BUL:HRC] said it completed a new share issue by which it increased its capital to just over 9.1 million levs ($4.7 million/4.65 million euros) from 3.04 million levs raises.

The capital increase, which amounted to around 6.08 million levs, is now registered in the Bulgarian commercial register, HR Capital said in a stock market filing on Tuesday.

The investment fund added that it will apply to the Bulgarian Stock Exchange (BSE) for admission to trading of the new stock on its BEAM SME growth segment.

Last month, HR Capital shareholders approved management’s proposal to issue 6,075,466 new ordinary shares with a nominal value of 1 lev each and a price of 1.00 lev each, with existing investors receiving two new shares for each unit currently held.

HR Capital listed on BEAM in January and has a current market value of 25.5 million levs. Its investment portfolio includes online grocer eBag, biometric security systems developer Biodit. The company also invests in three funds – Endeavor Catalyst, Eleven 2.0 which backs companies like Payhawk, Nitropack and Econic, and the new fund Eleven 3.0.

In April, the company announced that it had agreed to invest 150,000 euros ($152,600) in Cyprus-based logistics company QCommerce.

As of 11:34 a.m. CEST on Wednesday, HR Capital’s hares were trading down 3.57% to 2.70 lev each.

($ = 0.9828 euros)