January 13 (SeeNews) - Bulgarian pharmaceuticals producer Sopharma [BUL:SFA] said on Friday that it received a revised offer from its largest shareholder, Donev Investments Holding, to buy up to 11 million shares in the company, or 8.16% of its equity capital.
The Financial Supervision Commission (FSC) has not taken a stand on the submitted proposal yet, Sopharma said in a stock exchange filing.
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In December, the regulator suspended Donev Investments' 49.5 million levs ($27.26 million/25.31 million euro) original offer after identifying a number of deficiencies, including flaws related to Sopharma’s six-month weighted average price per share. The FSC requested additional data, such as proof of funds and a place where Donev Investments' financial statements for the past three years can be accessed by Sopharma shareholders.
Donev Investments is 99.48%-owned by Sopharma CEO Ognyan Donev.
As of 1345 CET, shares in Sopharma traded flat at 4.50 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)