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Elana AgroCredit launches secondary public offering

Bulgaria-based Elana AgroCredit AD plans to increase its capital through a public offering of 18,902,402 new shares for 1.10 Bulgarian leva per share, the company said Feb. 26.

The offering will be considered successful if at least 10 million shares are subscribed for by investors.

Trading in rights to the new shares will take place on the Bulgarian Stock Exchange between March 6 and March 19. Deadlines for the subscription and payment for the shares have been set for March 21 and April 16, respectively. The new shares are expected to start trading on the Bulgarian Stock Exchange on May 25.

As of Feb. 26, US$1 was equivalent to 1.59 Bulgarian leva.