Financial regulator approves Korado’s BGN 7.9m capital increase

The Financial Supervision Commission has approved Korado’s prospectus for the offering of 2 884 786 new shares with par value of BGN 1.00/share and issue price of BGN 2.75/share. The capital increase would raise the company’s share capital to BGN 9 087 076. The placement would be successful if at least 50% of the offered shares are subscribed. Korado Bulgaria will use the proceeds to partially finance plans for doubling its production capacity, currently at ca. 400k radiators yearly.