April 12 (SeeNews) - Bulgaria's Financial Supervision Commission said that it has asked local Finance Assistance Management to provide further information and documents regarding its request to receive a license to act as a special purpose vehicle (SPV).
The regulator did not provide further details in its statement, published on Thursday.
Finance Assistance Management, set up in October 2018, has a registered capital of 500,000 levs ($289,000/256,000 euro), according to commercial register data.
Under Bulgarian law, SPVs need to have a minimum registered capital of 500,000 levs. After they receive a license, they are required to carry out a capital increase, offering shares with a nominal value equivalent to at least 30% of their registered capital on the Sofia bourse.
(1 euro = 1.95583 levs)