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Bulgarian drug maker Tchaikapharma hikes capital

Author Mario Tanev
Bulgarian drug maker Tchaikapharma hikes capital Author: Tchaikapharma / All rights reserved.

SOFIA (Bulgaria), May 27 (SeeNews) - Bulgarian drug maker Tchaikapharma High Quality Medicines [BUL:7TH] has increased its capital by 10 million levs ($5.8 million/5.1 million euro) to 82.2 million levs, according to a statement by the Financial Supervision Commission.

The financial regulator entered the new share issue in the register of public companies, paving the way for Tchaikapharma to apply for listing the issue on the Bulgarian Stock Exchange, the FSC said in a statement last week.

Earlier this year, Tchaikapharma said that it intends to fund the capital increase by using part of its net profit in 2018, which amounted to 11.2 million levs.

Tchaikapharma shares last traded on the Bulgarian Stock Exchange on May 23, when they closed at 9.45 levs apiece.

Tchaikapharma's portfolio includes over 150 pharmaceutical products.

(1 euro = 1.95583 levs)