March 24 (SeeNews) - The Bulgarian financial regulator said on Friday it has removed veterinary drug maker Biovet [BUL:53B] from the register of public companies.
The Financial Supervision Commission (FSC) has adopted the decision on March 21, acting in response to a request filed by the company on March 7, the regulator announced on its website.
In December 2016, Biovet’s majority owner – Huvepharma, increased its stake by acquiring a further 207,724 shares, equivalent to 3.06% of Biovet’s share capital, at a price of 15.11 levs ($8.06/7.73 euro) per share.
Huvepharma held an 89.9% stake in Biovet as at February 6, according to the minutes from a meeting of Biovet shareholders.
In July 2016, Huvepharma signed an agreement for the joint management of Biovet with minority shareholder Opportunity 2009, which controlled 3.68% of Biovet’s share capital at the time.
Biovet has production plants in the towns of Peshtera, Botevgrad, and Razgrad. The company exports about 90% of its output.
Huvepharma focuses on the production and distribution of animal pharmaceutical products and animal feeds, as well as active pharmaceutical ingredients for use in animal and human pharmaceuticals.
Biovet shares last traded on the Sofia bourse on Wednesday, when they closed 2.11% higher at 14.5 levs, as 75 units changed hands.
(1 euro = 1.95583 levs)