Industrial Holding Bulgaria (IHB) was planning to invest funds from a capital increase in its companies in the maritime business, Dnevnik daily said on October 16.

The offering of securities for the capital increase was yet to become a fact but if the maximum expected money resource was achieved, the holding’s management was to use part of it to fund IHB’s subsidiaries and particularly those involved in the maritime business, sea shipping and port operations. The plans were shown in the holding’s prospect issued in line with the offering of securities for its capital hike.

IHB expected to raise around 41 million leva on the stock market by selling 17.5 million new shares with an issue price of 2.40 leva each. The time period, within which the capital increase would take place, was to be defined, Dnevnik said.

The holding was planning to buy new equipment and technology for its company Bulyard KI, as well as specialised port operating facilities for the firm KRZ Port Bourgas. IHB also had the intention to build the necessary infrastructure for extending and bringing up to date the port terminal in Bourgas, Dnevnik said.