May 29 (SeeNews) - Bulgaria's Financial Supervision Commission said that it has asked local diversified group Phoenix Capital Holding [BUL:0PH] to provide additional documents and information regarding its request for approval of a capital increase prospectus.
The regulator did not provide further details in its statement, published on Thursday.
This is the company's second attempt to increase its capital, as its previous try was turned down by the regulator last month, as the company's board was not authorised at the time to take a decision for a capital increase. Subsequently, the company held a shareholders meeting and the board was empowered to launch the capital increase procedure.
Phoenix Capital Holding will seek to raise up to 9.9 million levs ($5.5 million/5.1 million euro) by offering 1,000 shares for subscription.
If fully subscribed, Phoenix Capital Holding will double its registered capital to 200,000 levs.
Phoenix Capital Holding shares last traded on the Bulgarian Stock Exchange at a price of 100 levs.
(1 euro = 1.95583 levs)