December 21 (SeeNews) - Bulgaria's financial regulator said that it has delisted local insulation materials producer Hydroizomat [BUL:4HI] from the register of public companies.
Hydroizomat's capital is divided into 2,989,440 shares, the Financial Supervision Commission said in a statement late on Thursday.
Hydroizomat shares last traded on the Bulgarian Stock Exchange at a price of 1.40 levs apiece, which translates into a market capitalisation of some 4.2 million levs ($2.5 million/2.1 million euro).
In October, Bulgarian diversified group Industrial Holding Doverie acquired 79,966 shares in Hydroizomat, equal to a 2.67% stake, via a buyout bid priced at 1.43 levs per share. The offer targeted 279,870 Hydroizomat shares, which Industrial Holding Doverie did not own at the time.
Before the buyout offer, Industrial Holding Doverie held a 90.64% stake in Hydroizomat.
Industrial Holding Doverie is a unit of diversified group Doverie United Holding [BUL:5DOV].
(1 euro = 1.95583 levs)