December 20 (SeeNews) - Bulgaria's Financial Supervision Commission said that it has awarded local Compass Receivables Fund a license for acting as a special purpose entity (SPE), and issued approval for the company's capital increase plans.
Compass Receivables Fund SPE will offer 1 million shares at a price of 1 lev ($0.57/0.51 euro) apiece, the financial regulator said in a statement on Thursday.
The company has a registered capital of 500,000 levs currently, according to commercial register data.
Compass Receivables Fund SPE is majority owned by local Compass Capital, which currently holds 60.4% interest. Compass Capital is controlled by private individual Ivaylo Angarski, commercial register data shows.
(1 euro = 1.95583 levs)