Bulgaria's Zenith Investment shareholders approve cap hike, bond issue

The decisions were approved during an extraordinary general meeting of shareholders held on December 19, Zenith said in a bourse filing.

Zenith management was authorised to issue bonds, including convertible ones, in Bulgarian levs, euro or other currencies. The company will also be able to raise its capital by issuing new ordinary or preferred shares or by converting bonds into equity.

Zenith’s equity capital is divided into 248,364 shares with a par value of 1 lev each.

Shares in the company last traded at 7.80 levs on the BaSE market of the Bulgarian Stock Exchange.

Last year, Zenith Investment shareholders approved a management board proposal to reduce the coupon rate of the company's 10 million euro corporate bond due in October 2025.

(1 euro = 1.95583 levs)