Advance Terrafund to double capital

Advance Terrafund, a real estate investment trust targeting primarily agricultural land, said it is seeking regulatory approval to double its capital to 22.1 mln levs through the issue of 10.050 mln rights. The REIT has purchased 3,800 ha so far, at an average price of 1,650 levs/ha, investing a total of 6 mln levs. The company's latest purchase is a 0.5 ha site near the village of German, in the Sofia area, which will be leased.

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