March 6 (SeeNews) - Bulgarian drug maker Tchaikapharma High Quality Medicines [BUL:7TH] said on Wednesday that it is planning to increase its capital by 10 million levs ($5.8 million/5.1 million euro) to 82.2 million levs.
The pharmaceutical company will use part of its net profit in 2018, which amounted to 11.2 million levs, to fund the capital increase, Tchaikapharma said in an invitation for a shareholders meeting.
The company's shareholders will vote on the proposal at a meeting scheduled for April 8.
Tchaikapharma shares closed at a price of 9.3 levs apiece on the Bulgarian Stock Exchange on Tuesday.
Tchaikapharma's portfolio includes over 150 pharmaceutical products.
(1 euro = 1.95583 levs)