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Bulgaria's Svetlina seeks shareholders nod to delist from Sofia bourse

Author Mario Tanev
Bulgaria's Svetlina seeks shareholders nod to delist from Sofia bourse Author: Bulgarian Stock Exchange / All rights reserved.

SOFIA (Bulgaria), October 1 (SeeNews) - Bulgarian lighting equipment retailer Svetlina [BUL:3LX] said on Tuesday that it is seeking the approval of its shareholders to delist from the Bulgarian Stock Exchange.

Svetlina shareholders will vote on the proposal at a general meeting scheduled for November 14, the company said in a bourse filing.

Last month, Bulgarian diversified group Synergon Holding [BUL:6S7] acquired a 0.75% stake in Svetlina in a buyout bid priced at 20 levs ($11.1/20.2 euro) per share, increasing its stake in the company to 90.83%.

Svetlina shares last traded on the Bulgarian Stock Exchange on June 26 when they closed at 15.5 levs.

Synergon Holding was set up in 1996 as a privatisation fund under Bulgaria's voucher privatisation programme. The fund was transformed into a holding structure the following year. It has more than 25 subsidiaries and affiliated companies operating in various sectors of the Bulgarian economy.

(1 euro = 1.95583 levs)

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