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Bulgaria's LH Co-Invest planning to lower capital

Author Mario Tanev
Bulgaria's LH Co-Invest planning to lower capital Author: Ken Teegardin. Licence: Creative Commons.

SOFIA (Bulgaria), January 14 (SeeNews) - Bulgarian investment firm LH Co-Invest said that it is seeking the approval of its shareholders to lower its capital by nearly 500,000 levs ($284,000/256,000 euro) to some 5.54 million levs in order to optimise its capital base.

LH Co-Invest is planning to cancel 492,974 own shares with a nominal value of 1 lev apiece, the company said on Monday in an invitation for a shareholders meeting.

LH Co-Invest shareholders will vote on the proposal on February 19.

In 2018, the company invested over 3.5 million levs in stakes in 11 companies, according to data from its most recent annual financial statement.

At the end of 2018, LH Co-Invest had 22 shareholders, none of which held a stake of over 15%.

(1 euro = 1.95583 levs)