SOFIA (Bulgaria), December 28 (SeeNews) – Bulgarian industrial group Chimimport has sold 28.9% of its majority-owned local subsidiary Galata Investment Company to local affiliate Holding Varna company on the Sofia bourse, Galata said on Monday.
The parties to the deal were not made immediately known on Wednesday of last week when the transaction took place.
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Galata Investment Company, a real estate firm, reported the deal in a filing to the bourse in Sofia on the first working day after a long Christmas holiday.
Debut trading in shares in Galata Investment Company lifted nine-fold the total turnover on the Bulgarian Stock Exchange on Wednesday, the last working day before Christmas. The company stock surged almost 1,600% to 9,000 levs per share from its opening price of 532 levs in a volume of 2,890 shares.
Holding Varna officials were not immediately available for comment on Monday.
Galata Investment Company is based in Varna, on the Black Sea coast. It has a share capital of one million levs ($0.74 million /0.51 million euro), distributed in 10,000 shares. Chimiport owned directly 60.0% of the company before selling the 28.9% stake to Holding Varna.
(1 euro = 1.95583 levs)