SOFIA (Bulgaria), August 27 (SeeNews) – Bulgarian blue-chip drug maker Sopharma on Wednesday said that Telso, one of its main shareholders, has lowered its stake in the company to 13.77% from 23.77%.
Sopharma provided no further details in its filing with X3 News, the information service of the Bulgarian Stock Exchange. Officials of Sopharma and Telso were not immediately available to comment.
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The two biggest shareholders in Sopharma now are Donev Investments Holding, majority owned by the drug maker’s managing director Ognian Donev, with a 25.7% stake, and local company Telecomplekt which owns 20.4%. U.S.-based Gramercy Emerging Markets Fund has a 17.26% stake in Sopharma.
Sopharma exports most of its production to Russia, Ukraine, Poland, Kazakhstan and Latvia. The company’s first-half net profit fell 49.2% year-on-year to 9.7 million levs ($7.4 million/5.0 million euro), as total costs rose 29%.
Sopharma stock closed 0.1% lower at 4.4 levs in a volume of 14,047 shares on Wednesday. The filing was made after the close of bourse trading.
(1 euro = 1.95583 Bulgarian levs)