FEEI REIT acquired BGN 1.01m through capital increase (24.04.2014)
EESF REIT (EESF – Energetics & energy savings fund) completed the negotiations for capital increase by acquiring BGN 1,012,867.20 or 562,704 shares, with a nominal value of BGN 1.80.
A total of 3.61% of the maximum BGN 28m were subscribed. The minimum expectation for the issue was 1 share.
The expenses totaled BGN 52,436.40 including compensations, rewards, and taxes.
The last date for payment was 16th of April 2014. The capital increase was facilitated by the investment intermediary DISL Securities AD and the manager of the issue was the Bulgarian investment bank Mane Capital AD.
The current capital of the EESF REIT is in 3,891,422 shares. The company specializes in the securitization of receivables in energy efficiency. (Contracts with guaranteed energy saving result)
The net profit of the fund for 2013 is BGN 954,000 a decrease from BGN 1.05m in 2012. The portfolio reduced to BGN 24.6m by the end of last year from BGN 28.7m. The main creditor is the European Bank for Reconstruction and Development (EBRD).
The shares of EESF REIT lost 2.86% of their value in the last 12 months to BGN 1.70 per share and BGN 6.62m in market cap, but with the distributed gross dividend of BGN 0.2434 per share, there is in fact a growth in the assets.
Majority shareholder with over 50% share is Enemona AD.
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