January 10 (SeeNews) - Bulgaria's Web Media Group [BUL:WMG] said that its minority shareholder, pension insurance fund Saglasie, has increased its equity ownership to 6.97% from 4.98%.
Saglasie acquired 156,000 voting shares in Web Media Group on December 29, Web Media Group said in a bourse filing on Monday.
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Web Media Group is the majority owner of news website operators Web News BG and Infostock. The company runs the money.bg, news.bg, topsport.bg, lifestyle.bg and gladen.bg websites, and has investments in radio and film.
In the nine months through September, Web Media Group increased its revenue by over a quarter on the year to 2.35 million levs ($1.3 million/1.2 million euro). At the same time, its net loss expanded to 721,000 levs from 683,000 levs a year earlier, according to a recent interim financial statement.
In September, the group's board approved a share repurchase programme until the end of 2023.
Shares in Web Media Group have gained 24% in the past 12 months, bourse data show. The stock closed without change at 1.80 levs per share on Tuesday.
(1 euro = 1.95583 levs)