May 12 (SeeNews) - Bulgarian hotel operator Velina [BUL:4VE] said that local company Tomov Development has become its sole owner after squeezing out minority shareholders.
Tomov Development now owns all 1.53 million shares in Velina, the hotel operator said in a statement earlier this week.
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Velina shares last traded on the Bulgarian Stock Exchange at a price of 8.35 levs ($4.62/4.27 euro), giving the company a market capitalisation of some 12.8 million levs.
In December 2019, Tomov Development increased its stake in Velina to 99.43% via a buyout offer priced at 8.40 levs per share.
(1 euro = 1.95583 levs)