March 1 (SeeNews) - Bulgaria's IT Web has lowered its shareholding in local investment firm Eleven Capital [BUL:11C] to 3.02% from 6.25% in a deal concluded on February 26, Eleven Capital said on Monday.
Following the transaction, IT Web owns 69,570 shares in Eleven Capital, the investment company said in a bourse filing.
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Eleven Capital, established in January 2019, is the owner of the portfolio of local venture capital fund Eleven, comprising stakes in 70-80 companies. Eleven Capital started trading on the Bulgarian Stock Exchange (BSE) in August 2020 after raising 2.1 million levs ($1.3 million/1.2 million euro) in an initial public offering on the bourse.
Eleven Capital recorded a net profit of some 1.4 million levs in 2020, compared to a net loss of 1.2 million levs in 2019, according to the company's most recent financial statement.
As at 13:40 CET on Monday, shares in Eleven Capital traded 0.70% lower at 7.05 levs on the floor of the BSE.
According to commercial register data, Sofia-based IT Web is specialised in investments in the field of information technology.
(1 euro = 1.95583 levs)