May 29 (SeeNews) - Bulgaria's Financial Supervision Commission said that it has granted approval to local brokerage Deltastock for a 4.8 million levs ($2.7 million/2.5 million euro) capital decrease.
The regulator did not provide further details in its statement, published on Tuesday.
Earlier this year, Deltastock said its shareholders have approved the management's proposal to decrease the company's capital to 4.2 million levs from 9 million levs because the company is overcapitalised.
The forex and CFD brokerage intends to carry out the capital cut by repurchasing part of its own shares and subsequently cancelling them, it said at the time.
In 2017, Deltastock increased its capital to 9 million levs from 3.3 million levs.
Sofia-based Deltastock, established in 1998, provides integrated online trading services.
(1 euro = 1.95583 levs)