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Board member grows stake in Bulgaria's Gradus

Author Mario Tanev
Board member grows stake in Bulgaria's Gradus Author: Gradus / All rights reserved.

SOFIA (Bulgaria), December 13 (SeeNews) - Bulgaria's Gradus [BUL:GR6] said on Friday that Ivan Angelov - a member of the company's board of directors - has acquired 714,642 shares in the poultry producer at a weighted average price per share of 1.67 levs ($0.95/0.85 euro).

Ivan Angelov acquired the shares through two deals on the Bulgarian Stock Exchange on December 12, the company said in a bourse filing.

The shares are equal to 0.29% interest in Gradus.

At the end of September, Ivan Angelov was the company's third largest shareholder with a 20.36% stake.

Gradus shares closed Thursday's trading session on the Bulgarian Stock Exchange flat at 1.67 levs.

In June 2018, Gradus raised 81.4 million levs in a two-day initial public offering (IPO) on the BSE, making it the biggest IPO on the exchange since 2007. Investors subscribed for 45.2 million Gradus shares, or 81% of the total number of offered shares, at a price of 1.8 levs apiece, but the company has struggled to reach that share price since then.

(1 euro = 1.95583 levs)