Bulgarian Chernomorski Holding gets green light from shareholders to raise capital

SOFIA (Bulgaria), October 11 (SeeNews) – Bulgarian diversified group Chernomorski Holding [BUL:CHL] said its shareholders had authorized the board to increase the company’s capital to 25 million levs ($12.4 million/€12.8 million).

Chernomorski Holding can issue new common or preferred shares within five years under the decision taken at a shareholders’ meeting held on Oct. 10, the group said in a stock market filing on Monday.

In August, Bulgaria’s Financial Supervisory Commission approved Chernomorski Holding’s prospectus for issuing up to 1 million new shares at a price of 21 lev each. The shares will have a nominal value of 4 lev each.

The current share capital of the company is divided into some 2.29 million shares with a nominal value of 4 levs each.

According to its latest financial report, Chernomorski Holding owns 99.99% of the capital of financial investor Neftohim Invest Finance and 100% of the capital of oil products trader Dobrudzhanska Petrolna Kompania and operator of logistics and industrial zones Industrial and Logistic Park – Burgas.

Shares of Chernomorski Holding last traded at 5 levs on the BaSE market of the Bulgarian Stock Exchange, according to data from the exchange.

(1 euro = 1.95583 levs)

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