March 15 (SeeNews) - Online betting operator Telematic Interactive Bulgaria [BSE:TIB] said on Wednesday that it was authorised by its shareholders to make investments in financial instruments and money market instruments.
The value of the planned portfolio should be in the range from 1 million levs to 30 million levs ($16.18 million/15.3 million euro), the company said in a bourse filing.
The investment strategy includes the conclusion of deals for Treasury bonds, corporate bonds and other financial and money market instruments issued by governments or companies with credit ratings AAA, AA or A. Telematic was authorised to conclude transactions with licensed funds investing in such instruments. The instruments should have maturity no longer than 18 months from the date of acquisition and may be traded on local or international markets. About 15% of the portfolio could include investments in instruments issued by governments or companies with a BBB credit rating.
The aim of the planned transactions is to preserve the company’s funds, while generating additional profit from them.
(1 euro = 1.95583 levs)