Bulgaria's 235 Holdings majority owner cuts stake

Bulgaria's 235 Holdings majority owner cuts stake Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

SOFIA (Bulgaria), July 11 (SeeNews) - Bulgarian diversified group 235 Holdings [BUL:94G] said on Wednesday that its majority owner - Hong Kong-registered 235 Holdings Limited - has decreased its stake in the company to 94.069% from 97.866%.

235 Holdings Limited currently holds 4.806 million shares in the Bulgarian company, the Sofia-based diversified group said in a bourse filing.

235 Holdings shares started trading on the Bulgarian Stock Exchange on July 4.

The first deals with 235 Holdings shares occurred on July 5, when their price grew fivefold to 5 levs ($3.0/2.6 euro) apiece. A total of 201,000 shares in 235 Holdings changed hands in nine transactions during the trading session.

Last month, 235 Holdings increased its capital to 5.1 million levs from 100,000 levs by issuing 5 million shares at a price of 1 lev apiece equal to the par value.

In January, the financial regulator approved the company's capital hike prospectus, in accordance to which the company offered a total of 19.9 million shares for subscription. The success threshold was set at 5 million shares to be subscribed for and paid for.

According to the company's prospectus, it will use the proceeds of the capital increase to buy land, residential properties and securities.

In a separate bourse filing on Wednesday, 235 Holdings said it has acquired 100% stakes in local companies E-Concierge, Exclusive Facilities Management and Soft Start Incubators and has increased their capital.

According to data from the commercial register, E-Concierge and Exclusive Facilities Management are both active in real estate management, while Soft Start Incubators is a software development company.

(1 euro = 1.95583 levs)

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