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Compass Invest-managed funds sell 23.8% stake in Bulgarian Private Equity Fund

Compass Invest-managed funds sell 23.8% stake in Bulgarian Private Equity Fund Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

SOFIA (Bulgaria), April 16 (SeeNews) - Sofia-based Bulgarian Private Equity Fund (BPEF) [BUL:BPT] said in a statement on Monday that mutual funds managed by local Compass Invest have sold their entire 23.76% shareholding interest in the company.

BPRF provided no further details in its statement.

On April 11, a total of 789,910 shares of Bulgarian Private Equity Fund, representing a 23.76% stake in the company, changed hands in eight transactions on the Bulgarian Stock Exchange, all priced at 1.2 levs ($0.76/0.61 euro) per share.

Also on April 11, Bulgarian Private Equity Fund said its shareholders have approved a proposal to increase the company's capital to 9.97 million levs from 3.32 million levs through a new share issue.

The company plans to issue 6.65 million new shares with a nominal value of 1 lev each, equal to their sale price. It also said the capital increase will be considered successful if at least 500,000 shares are subscribed for and fully paid for.

In April last year, Bulgarian Private Equity Fund increased its capital to 3.32 million levs from 2.05 million levs.

(1 euro = 1.95583 levs)

 

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