Bulgaria’s FSC approves Concord Fund-7 South-East Europe’s cap hike prospectus

SOFIA (Bulgaria), October 11 (SeeNews) – Bulgaria’s Financial Supervision Commission said that it has approved the capital increase prospectus of local investment fund Concord Fund-7 South-East Europe [BUL:CCR7].

Concord Fund-7 South-East Europe will offer 5,318,500 million new shares for subscription at a price of 12.3 levs ($7.30/6.30 euro) apiece, the FSC said in a statement last week.

The capital increase will be considered successful if at least 2,659,250 of the offered shares are subscribed and paid for, Concord Fund-7 South-East Europe said in a statement last week.

The previous capital increase attempt of Concord Fund-7 South-East Europe failed earlier this year as the number of shares paid for by investors did not reach the 3 million share success threshold. Investors subscribed for all offered 3.868 million shares at the time but paid for only 63,440 of them by the specified deadline.

Shares of Concord Fund-7 South-East Europe last traded on the floor of the Sofia bourse at a price of 12.7 levs, bourse data showed.

Sofia-based Concord Fund-7 South-East Europe is the first Bulgarian closed-end national investment fund, according to information published on the website of the fund’s founder – local company Concord Asset Management.

(1 euro = 1.95583 levs)