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Bulgaria's FSC asks Web Media Group to fix bond listing prospectus

Author Mario Tanev
Bulgaria's FSC asks Web Media Group to fix bond listing prospectus Financial Supervision Commission/All rights reserved.

SOFIA (Bulgaria), September 4 (SeeNews) - Bulgaria's Financial Supervision Commission said that it has asked local Web Media Group [BUL:45W] to provide further information and documents regarding its request for approval of a bond listing prospectus.

The FSC did not provide further details in its statement, published on Tuesday.

Web Media Group placed a nine-year 12 million levs ($6.8 million/6.1 million euro) bonds issue in October 2018. The issue comprises 12,000 unsecured bonds with a nominal value of 1,000 levs each.

The bonds carry and annual coupon of 6%.

Web Media Group's majority owner at the end of 2018 was local company New Web Market, which held a stake of 58.38%. Web Media Group controls 100% of Web News BG, and a 70% stake in Infostock which it acquired in December 2018 for 237,000 levs.

Web News BG manages news websites money.bg, news.bg, topsport.bg and lifestyle.bg, while Infostock operates the infostock.bg news website.

(1 euro = 1.95583 levs)

 

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