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Dec 12, 2007 17:55 EEST
SOFIA (Bulgaria), December 12 (SeeNews) – Bulgaria’s financial regulator on Wednesday gave the green light to local real estate company Stock Plus to float its shares on the stock exchange in Sofia.
The Financial Supervision Commission (FSC) has allowed Stock Plus’ share capital of 4.8 million levs ($3.6 million/2.5 million euro), divided into the same number of shares, to be traded on the Bulgarian Stock Exchange, the FSC said in a statement.
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Stock Plus chairman Vladislav Panev has previously said the company will offer for subscription one million new shares with an issue price of about two levs each to finance its investment plans. Panev has said the company will use the money to cover the legal expense of re-zoning farmlands it owns for construction purposes.
Panev was not immediately available to comment when contacted by SeeNews on Wednesday.
A rising number of Bulgarian companies have announced plans to go public as financing through the stock exchange in Sofia has become easier after the influx of foreign funds following the country’s EU accession in January.
(1 euro = 1.95583 Bulgarian levs)
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