March 15 (SeeNews) - Online betting operator Telematic Interactive Bulgaria [BUL:TIB] said it has injected 1.14 million euro ($1.25 million) in its North Macedonian subsidiary, 77 Bits, as part of a capital hike.
Following the capital increase, Telematic Interactive Bulgaria's stake in 77 Bits remains 50%, the betting operator said in a bourse filing on Thursday.
The investment will bolster 77 Bits operational development, alongside its online betting activity in North Macedonia.
Telematic Interactive entered the online market in North Macedonia by acquiring a stake in 77 Bits in October. In December, the parent company said 77 Bits signed a contract with the National Lottery of the Republic of North Macedonia to jointly set up a local online betting company.
Shares in Telematic last traded on Thursday when they closed at 15.50 levs on the Bulgarian Stock Exchange, bourse data show.
($ = 0.9153 euro)