December 14 (SeeNews) - The Bulgarian Stock Exchange said that it has admitted to trading of a 5.0% 20 million levs ($12.0 million/10.2 million euro) bond issued by local diversified group Severcoop Gamza Holding [BUL:6S4].
The bonds will start trading on the exchange on December 18, the Sofia bourse operator said in a statement on Thursday.
The eight-year non-convertible issue consists of 20,000 bonds with a nominal value of 1,000 levs each.
Severcoop Gamza Holding issued the bonds in September and said it plans to use the proceeds from the issue to acquire majority and minority stakes in companies, in order to form a diversified portfolio.
Also in September, the company doubled its capital to 10.7 million levs via a new share issue. Severcoop Gamza Holding raised 10.7 million levs in the process, which it intends to invest in the purchase of stakes in companies active in production of wine, milk, foie gras and duck meat products, as well as water bottling and distribution.
Severcoop Gamza Holding was set up in 1998 as a privatisation fund.
(1 euro = 1.95583 levs)