September 8 (SeeNews) - Bulgarian financial services company Intercapital Group [BSE:ICG] said on Thursday it is launching a capital increase process through a rights issue at a ratio of two rights for each new preferred share in the business.
Intercapital Group will offer existing investors 1,925,000 preferred shares without voting rights at 1 lev par value each and an offering price of 1.70 levs apiece, the company said in a bourse filing on Wednesday.
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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 September 28.
The capital increase will be deemed successful if at least 750,000 of the offered shares are subscribed and fully paid for. Each preferred share will give its holder the right to receive a guaranteed cumulative annual dividend of 0.11 levs.
Funds from the capital increase will finance existing and new projects related to the company's main activity. Intercapital Group, which owns 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/2.96 million euro) from 3.85 million levs via the issuance of 1,925,000 preference shares without voting rights at a price of 1.70 levs apiece.
Shares in Intercapital Group last traded at 1.01 levs at the BaSE market of the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)