SOFIA (Bulgaria), April 3 (SeeNews) – Bulgarian pharmaceutical company Pharmhold, which is awaiting regulatory clearance to list on the Sofia bourse, said on Monday its net profit rose to 117,000 levs in 2016 from 80,000 levs in 2015.
The company’s main source of income was interest revenue, as it distributed its free capital as loans, it said in its annual financial report.
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Pharmhold plans to acquire a local drug producer for up to 10 million levs ($5.4 million/5.1 million euro), the company said in its prospectus for listing on the regulated market of the Sofia bourse. The acquired company should have an annual net sales revenue of 10 million levs.
The deal should go through in the two years following Pharmhold’s listing, it added.
Pharmhold has a total capital of 1.99 million levs ($1.1 million/1 million euro), divided into 1.99 million shares with a nominal value of 1 lev each, according to the country’s commercial registry. The company is owned by the mother of local businessman and leader of Volya (Will) party founder Vesselin Mareshki.
Mareshki owns a chain of pharmacies and a chain of filling stations.
(1 euro = 1.95583 levs)