Bulgaria's Intercapital Group gets new controlling shareholder

Nixon acquired 2.89 million voting shares, representing 75% of the target company's total equity, Intercapital Group said in a bourse filing on Tuesday.

The same amount of shares in Intercapital Group was sold by hitherto controlling shareholder Ali Aliev, a Russian citizen closely related to Roscapital Group, on March 10, the financial services company said in a separate filing.

Sofia-based Intercapital Group is mainly active in postal money transfers and services for collection of utility or telecoms bill payments.

In September 2021, the Bulgarian Financial Supervision Commission (FSC) approved a capital increase of Intercapital Group to 5.8 million levs ($3.3 million/2.96 million euro) from 3.85 million levs, designed to fund existing and new projects.

Shares in Intercapital Group last traded at 1.01 levs apiece on the BaSE market of the Bulgarian Stock Exchange, giving the company a market capitalisation of 3.89 million levs, bourse data showed.

(1 euro = 1.95583 levs)