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Jun 02, 2023 11:45 EEST
June 2 (SeeNews) - Bulgarian IoT products maker Allterco [BUL:A4L] intends to sell to private investors on regulated markets 40,000 own shares representing an equity stake of 0.22% in the company, it said.
Allterco will conduct the share placing until June 30 predominantly on the Frankfurt Stock Exchange and, as an alternative, on the Sofia bourse, it said in a filing on Thursday.
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The shares must be divested as according to the Commercial Law the company cannot hold own shares more than a year after purchasing them.
The Bulgarian company acquired the shares in over-the-counter deals on June 30, 2022 in order to partially finance its acquisition of Slovenian peer GOAP or offer them to employees or private investors. However, the company has not made use of the shares for either purpose. The shares were priced at 19.50 levs ($10.73/9.97 euro) apiece, Allterco said at the time.
As at 1135 CEST, shares in Allterco traded 0.36% lower at 27.60 levs on the Bulgarian Stock Exchange. In Frankfurt, the stock was changing hands 0.35% higher at 14.30 euro ($15.40), bourse data showed.
(1 euro = 1.95583 levs)
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