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Euroins Romania boosts stake in Bulgaria's Futures Capital

Author Mario Tanev
Euroins Romania boosts stake in Bulgaria's Futures Capital wrangler/Shutterstock.com

SOFIA (Bulgaria), February 18 (SeeNews) - Bulgaria's Futures Capital [BUL:5FC] said that insurer Euroins Romania Asigurare Reasigurare has increased its stake in the company to 19.55% from 8.08% on February 13.

Following the transaction, Euroins Romania controls 82,205 shares in the real estate investment company, Futures Capital said in a statement on Monday.

Futures Capital shares last traded on the Bulgarian Stock Exchange at a price of 25 levs ($13.8/12.8 euro) apiece, which would value the 11.47% stake acquired by Euroins Romania at some 1.2 million levs.

Euroins Romania is part of Bulgaria's Euroins Insurance Group (EIG).

Last week, Romania's financial regulator ASF fined Euroins Romania with 500,000 lei for violating some provisions of Law 132/2017 regulating the payment of compensations, and appointed the Insurance Guarantee Fund (FGA) as temporary administrator at the company until the appointment of a new board of directors. The company is due to hold a general shareholders meeting on March 16 to elect new board members.

(1 euro = 1.95583 levs)

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