Bulgaria's Tchaikapharma to skip dividend for 2023, hike capital

The company will also allocate to mandatory reserves 10% of its net profit of 3.4 million levs reported for last year, as well as 7,552 levs to its additional reserves, Tchaikapharma said in a bourse filing.

Tchaikapharma will use 7.3 million levs from its distributable profit of 7.36 million levs to increase its equity capital to 91.8 million levs from 84.5 million levs. The balance of 60,000 levs will be kept as undistributed earnings.

Investors will be able to subscribe for some 0.086 new shares for each unit they hold in the company.

Tchaikapharma skipped dividend distribution for 2022.

Shares in Tchaikapharma last traded on Wednesday when they closed at 17.20 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)