May 29 (SeeNews) - Coca-Cola Hellenic Bottling Company Bulgaria has decreased its registered capital to 1.08 million levs ($616,000/552,000 euro) from 18.42 million levs, commercial register data showed.
Coca-Cola HBC Bulgaria carried out a reverse stock split, merging 17 existing shares of 1 lev in par value each into 1 new share of nominal value of 17 levs, documents entered into the commercial register on Tuesday showed.
In order to complete the reverse stock split, the company increased its capital by 4 levs in February, so the existing number of shares becomes an exact multiple of 17. Then, the 18,419,398 existing shares were merged into 1,083,494 new shares.
Subsequently, the company reduced the nominal value of the new shares from 17 levs to 1 lev, effectively decreasing its capital to 1.08 million levs from 18.42 million levs.
The decision was unanimously approved by the company's shareholders at an extraordinary meeting held on January 25.
Coca-Cola Hellenic Bottling Company Bulgaria is part of Swiss-based holding Coca-Cola HBC AG.
Coca-Cola HBC is a leading bottler of the Coca-Cola company. In Southeast Europe, the company operates in Croatia, Slovenia, Romania, Bosnia and Herzegovina, Moldova, Macedonia, Serbia, Kosovo, and Montenegro.
(1 euro = 1.95583 levs)