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Bulgarian unit of Russian cosmetics co Timeks Pro to hike capital

Author Mario Tanev
Bulgarian unit of Russian cosmetics co Timeks Pro to hike capital Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

SOFIA (Bulgaria), November 5 (SeeNews) - Timeks Pro Bulgaria, a unit of Russian cosmetics retailer Timeks Pro, said on Tuesday that it is planning to increase its capital by 4 million levs ($2.3 million/2.0 million euro) to 4.05 million levs.

Russia's Timeks Pro will subscribe for 3.6 million shares with a nominal value of 1 lev each, while another Russian company - Stella, will subscribe for the remaining 400,000 shares, Timeks Pro Bulgaria said in the minutes of a recent shareholders meeting.

Timeks Pro Bulgaria was established in September.

(1 euro = 1.95583 levs)

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