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Big shareholder in Bulgaria's Sopharma aiming to cut or sell stake – analyst

Big shareholder in Bulgaria's Sopharma aiming to cut or sell stake – analyst hxdbzxy/Shutterstock.com

SOFIA (Bulgaria), December 6 (SeeNews) – Intensified trading in the shares of Bulgarian drug maker Sopharma [BUL:3JR] this week is related to the intentions of a big shareholder to reduce or sell its stake, Dimitar Georgiev, head of trading at ELANA Trading brokerage, said on Wednesday.

The bigger free-float will lead to increased liquidity of the stock, Georgiev told SeeNews in an e-mailed statement.

Over 6 million Sopharma shares changed hands on the Bulgarian Stock Exchange on Tuesday in a total of 158 transactions at a weighted average price of 4.27 levs apiece ($2.59/2.18 euro). The volume of Sopharma shares traded represents a 4.45% stake in the company.

By 16:00 CET on Wednesday some 4.7 million Sopharma shares have changed hands in 157 transactions at a weighted average price of 4.27 levs per share.

(1 euro = 1.95583 levs)

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