April 19 (SeeNews) - Bulgarian hotel operator Sv. Sv. Konstantin i Elena Holding [BUL:SKEH] said on Friday that it has raised some 22 million levs ($12 million/11.2 million euro) in a capital increase.
Investors subscribed for 999,999 shares with a par value of 1 lev each at an issue price of 22 levs apiece, Konstantin i Elena said in a bourse filing.
Konstantin i Elena launched the capital hike process last month, aiming to increase its capital to some 3.31 million levs from 2.31 million levs by offering up to 1 million new voting shares.
The proceeds will be used to design a hotel complex, repay debts and serve as a financial buffer, investment intermediary Central Cooperative Bank [BUL:CCB] said last month.
Shares in Konstantin i Elena last traded on April 4 when they closed at 22.00 levs on the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)