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Nov 20, 2017 16:47 EEST
SOFIA (Bulgaria), November 20 (SeeNews) – Bulgaria’s Financial Supervision Commission said it has rejected a request to remove real estate investment trust (REIT) Reserve Capital from the register of public companies.
As the company is currently in liquidation proceedings, the specific legislation regarding REITs envisages that Reserve Capital should first be liquidated before it can be removed from the public companies register, the financial regulator said in its decision posted on its website last week.
Reserve Capital was forced to enter liquidation proceedings after on October 10 the Financial Supervision Commission revoked its licence to operate as a special investment purpose company.
Following the financial regulator’s decision to revoke Reserve Capital’s licence, the company was removed from the Special Purpose Vehicles Segment of the Bulgarian Stock Exchange Main Market and was transferred to the Equities Segment of the BaSE Alternative Market of the Sofia bourse.
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