February 20 (SeeNews) - The shares of Bulgarian drug maker Unipharm [BUL:59X] will be suspended from trade on the Bulgarian Stock Exchange as of February 22, the Sofia bourse said on Tuesday.
The suspension will last until its merger with local peer Sopharma [BUL:3JR] is completed, the BSE said in a statement.
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Last week, Unipharm said it has asked the Bulgarian Stock Exchange and the country's Central Depository to suspend its share issue from trade as of February 22.
On February 23, Unipharm will hold a general meeting during which its shareholders will vote on the planned merger with Sopharma.
In December, the Financial Supervision Commission gave permission to Sopharma to absorb Unipharm.
Under the terms of the deal, Unipharm shares will be converted into Sopharma shares at a ratio of 1:0.891512.
The agreement for the merger was signed in September.
In June 2017, Sopharma increased its stake in Unipharm to 96.63%, from 77.88%, in a buyout bid priced at 4.35 levs ($2.65/2.22 euro) per share.
(1 euro=1.95583 levs)