February 15 (SeeNews) - Bulgaria's Jumbo EC.B, a wholly-owned unit of Greek toy retailer Jumbo, said that it is going to decrease its registered capital by 37.3 million levs ($21.5 million/19.1 million euro) to 161.6 million levs.
The Bulgarian company does not currently need the funds, minutes from Jumbo EC.B's recent shareholders meeting, published on Thursday, showed.
The company will decrease its capital by cutting the nominal value of its shares to 65 levs from 80 levs.
Jumbo EC.B will subsequently transfer the 37.3 million levs to its parent company, according to the document.
In September, Jumbo EC.B cut its capital by 49.7 million levs to 198.9 million levs, as it lowered the nominal value of its shares to 80 levs from 100 levs.
The toy retailer entered the Bulgarian market in 2005 and currently has nine stores in the country - four in Sofia, and one each in the cities of Plovdiv, Varna, Burgas, Ruse and Stara Zagora.
Jumbo's Bulgarian unit employed 839 people at the end of June. Jumbo entered the Bulgarian market in 2005.
Outside Greece, Jumbo has stores in Bulgaria, Romania and Cyprus.
(1 euro = 1.95583 levs)