Bulgaria's Tomov Development further grows stake in hotel operator Velina

The transaction was registered with the central depository on October 4, Velina said in a statement earlier this week.

Last week, Velina said that Tomov Developments has acquired a 61.06% stake in the company without disclosing further details. A similar stake in the company changed hands on the Bulgarian Stock Exchange on September 30 in four deals worth a total of some 7.8 million levs ($4.4 million/4.0 million euro), bourse data shows.

At the same time, private individual Svetoslav Angelov sold a 45.10% stake in Velina for 5.76 million levs, while another private investor Yurii Angelov sold a 15.78% stake for 2.02 million levs, Velina said last week. Board member Plamen Petrov also sold a tiny stake of 0.11% for some 14,000 levs.

All three deals, which took place on September 30, were priced at 8.35 levs per share.

Subsequently, a 32.68% stake in Velina traded on October 2 in a single deal on the Bulgarian Stock Exchange worth 4.2 million levs, or 8.4 levs per share.

(1 euro = 1.95583 levs)