February 7 (SeeNews) - Bulgarian forex and CFD brokerage Deltastock said that its shareholders have approved the management's proposal to decrease the company's capital to 4.2 million levs ($2.4 million/2.1 million) from 9 million levs.
The company intends to carry out the capital cut by repurchasing part of its own shares and subsequently cancelling them, documents filed by the Deltastock with the commercial register show.
The reason for the capital cut is that the company is currently overcapitalised, according to the filing.
In 2017, Deltastock increased its capital to 9 million levs from 3.3 million levs.
Sofia-based Deltastock, established in 1998, provides integrated online trading services.
(1 euro = 1.95583 levs)