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Bulgarian regulator asks Euroins to correct delisting request

Author Mario Tanev
Bulgarian regulator asks Euroins to correct delisting request Financial Supervision Commission/All rights reserved.

SOFIA (Bulgaria), October 18 (SeeNews) – Bulgaria’s Financial Supervision Commission (FSC) said it has sent back for correction the documents submitted by insurer Euroins [BUL:5IC] related to its request to be delisted from the Bulgarian Stock Exchange.

The company has one month to submit the corrected documents to the FSC, the financial regulator said in a statement on Tuesday.

On October 2, Euroins’ shareholders approved a proposal to delist the insurance company from the stock exchange in Sofia.

In August, the company’s majority owner Euroins Insurance Group (EIG) acquired 796,316 Euroins shares in a takeover bid priced at 1.3 levs ($0.78/0.66 euro) apiece.

As at October 2, EIG held directly 15.63 million Euroins shares, representing a 94.9% stake in the company.

EIG is a subsidiary of holding company Eurohold Bulgaria [BUL:4EH].

Euroins has a registered capital of 16.5 million levs distributed in 16.5 million shares with a nominal value of 1 lev each.

(1 euro=1.95583 levs)