November 12 (SeeNews) - Bulgaria's BPD Industrial Real Estate Fund REIT [BUL:28R], previously known as Arco Real Estate Fund REIT, said on Monday that investors have subscribed for all 299 million warrants, which the company offered at a price of 0.001 levs apiece.
The proceeds of the issuance total 299,000 levs ($172,000/153,000 euro), the company said in a statement.
Each warrant gives its holder the right to subscribe for 1 share in BPD Industrial Real Estate Fund at a price of 1 lev. Holders of the company's warrants can exercise their right within a 5-year period.
Currently, BPD Industrial Real Estate Fund has a registered capital of 650,000 levs, divided into the same number of shares.
BPD Industrial Real Estate Fund shares last traded on the Bulgarian Stock Exchange at a price of 1.01 levs.
In February, Estonian real estate group Arco Vara said it has sold its 100% stake in Arco Real Estate Fund for 333,000 euro.
(1 euro = 1.95583 levs)