SOFIA (Bulgaria), February 20 (SeeNews) – Bulgarian financial and insurance group Starcom Holding [BUL:S28H] raised its stake in local peer Eurohold Bulgaria [BUL:4EH] to 60.58% from 50.05% following a capital hike, Eurohold said on Monday.
Following the capital increase, Finnish investment fund KJK Capital's stake in Eurohold Bulgaria decreased to 9.47% from 12%, the Sofia-based company said in a bourse filing.
In February, Eurohold Bulgaria announced it has successfully completed a capital increase of 34 million levs ($18.5 million/17.4 million euro) through a rights issue.
In December, Eurohold Bulgaria said it will issue 84,896,666 voting shares with a nominal value of 1 lev each. The capital increase was to be considered successful if at least 33,958,667 shares were subscribed for and paid for.
Eurohold Bulgaria's activities include financial services, leasing, insurance and car sales. The company has subsidiaries in Bulgaria, Romania and Macedonia.
Eurohold Bulgaria's shares traded 1.16% higher at 0.7 levs as at 13:30 CET on Monday, in a trading volume of 2,300 units.
(1 euro = 1.95583 levs)