March 22 (SeeNews) - Bulgarian telecommunications services provider Allterco [BUL:A4L] said on Wednesday it intends to increase the capital of its Thailand-based subsidiary Allterco Co. to 52,000 levs ($28,700/26,600 euro), from the current 10,000 levs, via a new share issue.
Allterco Co. will issue 80,000 shares with a nominal value of 0.52 levs each, Allterco said in a filing to the Sofia bourse. Sofia-based Allterco intends to subscribe for 39,200 new shares, worth a total of 20,500 levs, it said.
The capital increase is a result of demands from Allterco Co.’s contractual partners, the company added. Allterco owns 49% of Allterco Co,’s capital.
In December 2016, Allterco announced it will hike the capital of its wholly-owned subsidiary, Allterco Robotics, to 1.5 million levs, from 1,000 levs.
Allterco operates on eight markets worldwide. In Southeastern Europe, the company has offices in Romania, Serbia and Macedonia. Allterco partners with over 20 mobile operators in seven countries on three continents and its services reach around a billion users.
(1 euro = 1.95583 levs)