SOFIA (Bulgaria), September 5 (SeeNews) – Financial and industrial group Eurohold Bulgaria said on Friday it will raise its stake in Macedonian insurer Evroins Osiguruvanje, former Makosped Osiguruvanje, to 91.4% from 83.25%, via a 1.42 million euro ($2.0 million) capital hike.
Eurohold Bulgaria will subscribe for 2,786 new shares with par value of 511 euro each in order to increase Evorins Osiguruvanje’s registered capital to the required minimum of 3.0 million euro, Eurohold Bulgaria said in a statement.
The Bulgarian group acquired 83.25% of Makosped Osiguruvanje for 7.3 million euro earlier this year as part of plans for regional expansion.
The group is also planning to develop its leasing operation in Bulgaria’s southwestern neighbour. Along with Bulgaria and Macedonia, Eurohold Bulgaria is also active in Romania and Serbia.
Shares in Eurohold Bulgaria traded 1.68% down at 4.56 levs ($3.37/2.37 euro) by 0952 GMT on Friday.
Eurohold's line of business is financial services, car dealing, manufacturing and high technology.
(1 euro = 1.95583 Bulgarian levs)
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