Over 1 mln shares of Bulgaria’s Galata Investment change hands in block deals

Each of the three deals was priced at 1.5 levs per share, BSE data indicated.

The parties to the deals were not disclosed.

On Tuesday, over 2.1 million Galata Investment shares were traded in three block deals, worth a combined 3.2 million levs.

On Monday, some 1.5 million Galata Investment shares were traded in four block deals, all at a price of 1.5 levs per share.

Earlier this month, Tsvetoslav Tsachev, chief investment consultant at local brokerage Elana Trading, told SeeNews that restructuring of institutional investors’ portfolios is the reason for the unusually high daily trading turnover on the BSE during the period August 2 – August 4.

Trade in Galata Investment shares generated a total turnover of 17.5 million levs on August 3 and August 4, as 11.65 million of the company shares changed hands during the two sessions.

(1 euro = 1.95583 levs)