Black Sea Property completes rights issue, raises NOK10m

Black Sea Property AS announced the registration of its new share capital with the Norwegian Register of Business Enterprises, following a successful rights issue. The company issued 200,000,000 new shares at a subscription price of NOK 0.05 per share, raising gross proceeds of up to NOK 10,000,000. This capital increase was first resolved by the general meeting on September 9, 2025, with the results of the rights issue announced on October 15, 2025.

The registration officially increases the company’s share capital by NOK 10,000,000. Black Sea Property's new total share capital now stands at NOK 23,091,880, divided into 461,837,600 shares, each maintaining a par value of NOK 0.05.

Black Sea Property AS is a real estate company focused on the Sunrise River Beach Resort project on the Black Sea coast. This partially completed development is planned to comprise approximately 950 apartments and significant commercial space. The company aims to finalize the resort, realizing added value through unit sales and hotel operations.