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Nov 19, 2007 15:18 EEST
November 19 (SeeNews) - Financial and industrial group Eurohold Bulgaria on Monday sold 21.34% of its medical equipment unit Etropal at an average price of 8.07 levs ($6.04/4.12 euro) per share in an auction on the Sofia bourse.
Eurohold sold 1,067,185 shares in Etropal's initial public offering raising over 8.0 million levs, the group said in a statement.
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Eurohold offered 1.4 million shares in the plastic medical equipment manufacturer at a minimum price of 7.95 levs each.
The group plans to use the proceeds from the share sale for investments in the plastics industry. Last week it acquired a 49.8% stake in flexible packaging producer Plastchim T for an undisclosed sum, in a move to improve its performance in the manufacturing sector.
Eurohold's line of business is financial services, car dealing, manufacturing and high technology.
Shares in the holding company added 0.7% to 7.19 levs on Monday.
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