With investments of ca. BGN 60M since inception and favorable leasing conditions, ELANA Agrocredit’s lean business model is successfully financing small farmers. With strong demand for land and expected ongoing land appreciation in Bulgaria, it is set for growth, at the same time delivering higher than market’s average yields for its investors.
In June 2018 ELANA Agrocredit invested in purchase of 700 dca (70 ha) farmland as making financial leasing contracts with farmers, the company announced in its monthly newsletter for investors. The deals amounted at BGN 729 510. That added to a total of BGN 6 033 000 investment in H1 2018.
ELANA Agrocredit successfully completed its capital increase raising a total of BGN 19.5m, the Company reported in a regulatory filing. The minimum required for success of the offering was set at 10 mln. shares subscribed (BGN 1.10 per share).
On 26 February 2018 ELANA Agrocredit announced the start of a new capital increase by public offering of 18 902 402 new shares with issue price of BGN 1.10 per share. According to the approved by regulator prospectus, the offering will be considered successful by subscription of minimum of 10 mln. shares.
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