BLD to raise EUR 22 mln for future investment

Bulgarian Land Development (BLD) is to raise £15 mln (EUR 22.2. mln) through a placing of 15 million new ordinary shares at £1 each in London. Shareholders are to vote on the board's proposal at an extraordinary meeting on March 14, 2007. The company is planning to use the net proceeds for future investment in accordance with its investment strategy.

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