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Far seeks admission to trading on Bulgarian Stock Exchange

Author Mario Tanev
Far seeks admission to trading on Bulgarian Stock Exchange Photo: Bulgarian Stock Exchange / All rights reserved.

SOFIA (Bulgaria), June 21 (SeeNews) - The Bulgarian Stock Exchange said on Friday that it has received a request for admission to trading from local agriculture company Far.

Far intends to list all of its existing 2.5 million shares with a nominal value of 1 lev ($0.57/0.51 euro) each on the regulated market of the Sofia bourse, the stock exchange operator said in a statement.

In November 2018, Far's shareholders approved the company's plan to list all of its existing 2.5 million shares for trading on the Bulgarian Stock Exchange, according to the minutes from the meeting.

At the time, Far's shareholders also approved changing the company's scope of business activity to production, trade, storage and processing of agricultural products.

At the time of the meeting, local investor Slavka Georgieva held an 80% stake in Far, while another private individual, Krasimir Dochev, owned the remaining 20% stake.

Far generated revenue of 241,000 levs in 2017 and ended the year with a net profit of 67,000 levs, according to its latest available annual financial statement.

(1 euro = 1.95583 levs)