Bulgaria capitals

The Bulgarian group Intercapital launches the sale of rights as part of a plan to raise the ceiling

SOFIA (Bulgaria), September 8 (SeeNews) – Bulgarian financial services company Intercapital Group [BSE:ICG] said on Thursday it was initiating a capital raising process through a rights issue at the rate of two rights for each new preferred share in the company.

Intercapital Group will offer existing investors 1,925,000 non-voting preferred shares at a par value of 1 lev each and an offering price of 1.70 lev each, the company said in a filing on Wednesday.

You can subscribe to our M&A newsletter here

The offering on the Bulgarian Stock Exchange will close on September 14, with investors able to subscribe for the preferred shares from September 8 to 28.

The capital increase will be deemed successful if at least 750,000 of the shares offered are subscribed and fully paid up. Each preferred share will entitle its holder to receive a guaranteed cumulative annual dividend of 0.11 leva.

Funds from the capital increase will finance existing and new projects related to the company’s core business. Intercapital Group, owner of the CashTerminal brand, offers self-service payment terminals, point-of-sale (POS) terminals and payment software.

In August 2021, Intercapital Group received approval from its shareholders to increase its capital to 5.8 million levs (2.96 million dollars / 2.96 million euros) from 3.85 million levs through the issue of 1,925,000 non-voting preferred shares at a price of 1.70 leva each.

Shares of Intercapital Group last traded at 1.01 lev on the BaSE market of the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)