December 3 (SeeNews) - Bulgarian heating utility Toplofikatsia-Burgas [BUL:TPLB] said on Friday that local universal pension fund (UPF) Toplina, managed by Sofia-based pension insurer Toplina, increased its stake in the company to 5.77%.
Following the transaction, Toplina indirectly holds 6.69% interest in Toplofikatsia-Burgas, the heating utility said in a bourse filing.
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Toplina held indirectly a 4.03% stake in Toplofikatsia-Burgas through UPF Toplina at the end of September, according to the most recent financial statement of the heating utility.
UPF Toplina acquired on December 1 a total of 495,500 ordinary shares with voting rights in the capital of Toplofikatsia-Burgas. Following the acquisition, UPF Toplina holds 1,669,500 shares in the heating utility.
On Friday, shares in Toplofikatsia-Burgas closed flat at 1.51 levs ($0.87/0.77 euro) on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)