Bulgaria's Velev Invest lift stake in M+S Hydraulic

Velev Invest acquired 82,824 shares in a deal priced at 6.20 levs ($3.47/3.17 euro) per share and a further 300 shares for 6.15 levs apiece, M+S Hydraulic said in a bourse filing.

The 83,124 shares are equal to a 0.21% stake in M+S Hydraulic.

M+S Hydraulic's board of directors member Vasil Velev owns a 50% stake in Velev Invest, according to commercial register data.

Velev Invest owned 57,280 shares in M+S Hydraulic at end of June, according to the hydraulic equipment manufacturer's latest interim financial statement.

Insiders have been actively acquiring shares in M+S Hydraulic since the start of last week, including Evgeniy Uzunov - chairman of the company's board, as well as another board member - local company Mang.

As at 8:45 CET on Monday, M+S Hydraulic shares traded at 6.35 levs, unchanged from their previous closing price on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)