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Dec 23, 2020 12:44 EEST
December 23 (SeeNews) - Bulgarian real estate investment company Square Cube Properties said that Hong Kong-based 235 Holdings Limited acquired a 94.576% stake in the company on November 19.
The holding company acquired the shares through a capital increase procedure of Square Cube Properties, the real estate investment company said in a bourse filing on Tuesday.
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The buyer owned no shares in the capital of Square Cube Properties prior to the transaction, the bourse filing showed.
In a separate bourse filing on Tuesday, Square Cube Properties said that private individual Miliyo Milev cut its interest in the company from 48% to 0.97% on November 19.
Earlier this month, Square Cube Properties said that it has raised just over 5 million levs ($3.1 million/2.6 million euro) through an initial public offering on the Bulgarian Stock Exchange.
Investors subscribed for 5.002 million shares, exceeding the 5 million shares success threshold, the company said at the time. Square Cube Properties offered 6 million shares for subscription.
Sofia-based Square Cube Properties was established in May and currently has a registered capital of some 5 million levs.
(1 euro = 1.95583 levs)
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