July 19 (SeeNews) - Bulgaria's financial regulator said it has delisted commercial kitchen equipment manufacturer Torgoterm [BUL:TTV] from the stock exchange in Sofia.
The Financial Supervision Commission also delisted Torgoterm from its register of public companies, it said in a statement on Wednesday.
Torgoterm's shareholders approved the decision to delist the company from the Sofia bourse earlier this month.
In May, the company's majority owner - Metalcomplektengineering, acquired 4,365 Torgoterm shares, equal to a 0.1455% stake, in a buyout bid. The buyout bid, priced at 6.0 levs ($3.8/3.1 euro) per share, targeted 68,464 shares which the company did not already own at the time.
Metalcomplektengineering owned a 97.72% stake in Torgoterm prior to the buyout bid.
Torgoterm, established in 1965, manufactures and imports professional kitchen equipment. The company exports around 80% of its output to Spain, Italy, France and other countries.
Metalcomplektengineering acquired a majority stake in Torgoterm in 2006.
(1 euro = 1.95583 levs)