December 5 (SeeNews) - The Bulgarian financial watchdog on Wednesday refused to sanction Bulgarian Publishing Company (BPC) listing its shares on the Sofia Stock Exchange as the company's prospectus was not satisfactory.
The Financial Supervision Commission said in a statement the prospectus had deficiencies that had not been fixed and there was also a possibility of infringing the interests of potential investors.
BPC was planning to float its shares on the bourse in Sofia prior to this year's summer holidays, local business daily Dnevnik reported in April.
The company has a share capital of 2.635 million levs ($2.0 million/1.4 million euro), divided into 263,500 shares with a par value of 10 levs each and planned to further raise it via the issue.
BPC, established in 1997, publishes weekly newspaper Computers and magazines Cherga BG, Software&Hardware and Office Assistant. It also runs websites computers.bg, software.bg, hardware.bg and cherga.bg.
(1 euro = 1.95583 Bulgarian levs)