You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Bulgarian arms maker Arcus hikes capital

Author Mario Tanev
Bulgarian arms maker Arcus hikes capital Author: snarglebarf Licence: Creative Commons

SOFIA (Bulgaria), June 6 (SeeNews) - Bulgarian arms maker Arcus has increased its capital to 45.7 million levs ($26.4 million/23.4 million euro) from 29.7 million levs on March 29, commercial register data shows.

The company hiked the nominal value of its shares to 100 levs from 65 levs, according to documents entered into the commercial register last week.

Arcus increased its capital by using own funds, the documents show.

Arcus, based in the town of Lyaskovets, in northern Bulgaria, produces ammunition, fuses for artillery and tank ammunition, mortar bombs and air bombs, grenade launchers and small arms like pistols and revolvers.

The company booked a consolidated net profit of 7.2 million levs on revenue of 153.7 million levs in 2017, according to its latest available annual financial statement.

(1 euro=1.95583 levs)