June 1 (SeeNews) - Bulgaria's financial regulator said that it has banned the publication of a buyout bid by local company Development Group for the remaining 900,311 shares in its subsidiary Industry Development Holding [BUL:6R1] it does not already own.
Development Group was offering to pay 2 levs ($1.22/1.02 euro) per share, the Financial Supervision Commission said in a statement earlier this week.
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The regulator provided no further details.
Industry Development Holding shares last traded on the Bulgarian Stock Exchange at a price of 2.1 levs per share.
Industry Development Holding's capital is divided into 9.98 million shares with a nominal value of 1 lev each, according to bourse data.
(1 euro = 1.95583 levs)