February 21 (SeeNews) - Bulgarian diversified group Synergon Holding [BUL:6S7] said on Thursday that it has increased the capital of its unit Synergon Petroleum by 25 million levs ($14.5 million/12.8 million euro) to 29 million levs.
Synergon Holding subscribed for all 2.5 million Synergon Petroleum shares with a nominal value of 10 levs each, the group said in a bourse filing.
Following the capital increase, Synergon Holding owns an 89.6% stake in Synergon Petroleum directly and 10.4% indirectly, through its majority-owned unit Toplivo [BUL:3TV].
As at 13:25 CET on Thursday, Synergon Holding shares traded 2.56% higher at 1.2 levs on the Bulgarian Stock Exchange.
No Toplivo shares had traded on the BSE by the same hour.
Synergon Petroleum operates 30 petroleum and natural gas filling stations in Bulgaria.
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)