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Oct 31, 2017 13:07 EEST
October 31 (SeeNews) - Bulgaria’s financial regulator said it has approved the prospectus of financial and insurance group Eurohold Bulgaria [BUL:4EH] for a capital increase via the issuance of 40.3 million new shares.
Eurohold Bulgaria will issue the shares, which have a nominal value of 1 lev ($0.59/0.51 euro) each, at a price of 1.3 levs apiece, the Financial Supervision Commission (FSC) said in a statement on Monday.
Earlier this month, Eurohold Bulgaria [BUL:4EH] said its shareholders have approved a proposal to increase the company’s capital by 40.3 million levs to 202 million levs and to issue a five-year bond of up to 100 million euro.
The new share issue will be considered successful if at least 20.2 million shares are subscribed for and fully paid for, Eurohold Bulgaria said at the time.
In parallel, the company will issue between 40 million euro and 100 million euro worth of corporate bonds carrying an annual coupon of up to 8%.
The group's portfolio includes companies in financial services, leasing, insurance and car sales.
Eurohold Bulgaria shares last traded on Monday, when they closed 0.16% higher at 1.29 levs.
(1 euro=1.95583 levs)
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