You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Eurohold Bulgaria receives shareholders' nod for cap hike

Author Mario Tanev
Eurohold Bulgaria receives shareholders' nod for cap hike Eurohold/All rights reserved.

SOFIA (Bulgaria), April 23 (SeeNews) - Financial and insurance group Eurohold Bulgaria [BUL:4EH] said that its shareholders have approved the company's plans to raise up to 154 million levs ($88.5 million/78.8 million euro) via a capital increase.

Eurohold Bulgaria will offer the newly-issued shares for subscription at a price of 1.95 levs each, the company said in a bourse filing on Monday.

Last month, Eurohold said that it will offer 79,010,240 preferred shares with a guaranteed dividend payout and no voting right. The shares have a guaranteed dividend equal to 6% of their nominal value in the first 5 years since their issuance, 3% in the following 5 years, and 1% from the 11th year onwards.

The capital increase will be considered successful if at least 20 million shares are subscribed for and paid for.

Last week, Eurohold said that it has launched exclusive talks with CEZ for the acquisition of the Czech energy group's assets in Bulgaria.

Eurohold Bulgaria's portfolio includes companies active in financial services, leasing, insurance and car sales.

(1 euro = 1.95583 levs)