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FSC approved Sopharma Properties’ prospectus for capital increase (NEUTRAL)

The BGN 5.5m capital raise of Sopharma Properties REIT was given a green light by FSC. The regulator approved the prospectus for the issue of 850 000 new shares with a nominal value of BGN 1 and an issue price of BGN 6.5. The issue will increase the registered capital from BGN 20.10m to BGN 20.95m. Over the last few years the company has increased its capital after each dividend distribution. Sopharma Properties is deleveraging by repaying its BGN 22.4m bank loan, BGN 4.5m of which are due this year.

Source: Sopharma Properties; FFBH

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