April 15 (SeeNews) - Bulgarian plastic and rubber products manufacturer Formoplast [BUL:FORM] said on Friday that local investment firm EF Asset Management increased its overall shareholding in the company to 14.6% as a result of a transaction notified on April 8.
The financial terms of the deal were not disclosed in Formoplast's regulatory filing. EF Asset Management owns the interest together with its three funds -- EF Rapid, EF Principal ETF [BUL:EFPR] and NMF EF Potential.
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According to the target company's most recent financial statement, EF Rapid controlled a stake of below 5% in the company at the end of 2021, whereas EF Principal held 9.54%.
The Kardzhali-based plastic products manufacturer has a market capitalisation of 23.55 million levs ($13 million/12 million euro), bourse data showed.
Shares in Formoplast closed flat at 6.20 levs apiece on the Bulgarian Stock Exchange on Thursday, with Friday declared a non-trading day.
(1 euro = 1.95583 levs)