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Sofia Commerce-Pawn Brokerage shareholders approve fourfold cap hike

Sofia Commerce-Pawn Brokerage shareholders approve fourfold cap hike Photo: Sofia Commerce-Pawn Brokerage / All rights reserved.

SOFIA (Bulgaria), June 21 (SeeNews) - Bulgarian pawnshop chain operator Sofia Commerce-Pawn Brokerage [BUL:SCOM] said that its shareholders approved a proposed capital increase to 9.49 million levs ($5.1 million/4.85 million euro) from 2.37 million levs.

The green light for the issuance of a little over 7.1 million new voting shares of 1 lev in par value each was given at a general meeting on June 20, the company said in a bourse filing on Monday.

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The company will fund the capital increase through its accumulated prior-year profit of 2.68 million levs, 2.52 million levs out of its reserve fund as well as its net profit of 1.9 million levs for 2021.

Under the planned transaction, investors in the company will receive three new shares for each unit currently held.

June 30 is the final date for trading in shares of the company before the capital increase.

Sofia Commerce-Pawn Brokerage, which has a market capitalisation of 22.3 million levs, has seen its stock value rise by over 32% in the past 12 months. Its shares closed 5% lower at 9.40 levs on Monday.

(1 euro = 1.95583 levs)

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