Bulgarian Property Investment Fund Floats £23m Shares in London

Article Date : 30 March 2006

Bulgarian Land Development, a real estate investment fund, established by realtor Address Group, announced the start of floating shares on the Alternative Investment Market of the London Stock Exchange, or AIM. The fund said it raised £25m by placing £23m worth of shares on AIM at 100 pence apiece. On the very first day of the placement the achieved yields reached 10%. The fund plans to invest the entire capital in residential property and holiday sites in Bulgaria's Black sea and winter resorts. Based on the Isle of Man, the fund was established for about eight months with the aim to attract huge foreign investors to the Bulgarian real estate market. Among the investors in the fund are CLS Holding, one of the biggest real estate companies in Europe, he fund management company Jupiter, New Star.

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Article provided by Sofia News Agency.
Read the full article here: http://www.novinite.com

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Bulgarian Property Investment Fund Floats £23m Shares in London

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