The Equest Investment balkans fund will focus long-term investment efforts on four priority sectors - waste management, property development, retailing and financial services, and will not explore additional business opportunies at this stage, the company said in a filing with the London Stock exchange where it is listed.
The fund is fully invested in 12 companies with committed resources estimated at 391 mln euro.
The preliminary figures show a net asset value increase of 31% to 32.40 euro per share in 2007.
'Operational focus is now on growing the operating businesses of select core holdings including electronics retailer TechnomarketDomo, the Borovets resort development, waste manager Novera and automotive company Avto Union within the South East European region whilst seeking the disposal of the other property holdings,' the fund said in the statement.
In April, the shareholders approved restructuring the company from an externally managed fund to an internally managed holding company. The restructuring will take effect upon de-listing of the company's shares from the Irish Stock exchange. The company's shares will continue to be admitted to trading on the AIM segment of the LSE.
The board is now actively considering the possible listing of EIB shares on a regional stock exchange to widen the shares audience.
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