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Eurohold to issue new shares on the Bulgarian Stock Exchange

Eurohold wants to increase its working capital by issuing new shares on the Bulgarian Stock Exchange, to obtain up to 100 million euros funds.

Funds will be used to finance the acquisition of CEZ Group subsidiaries in Bulgaria.

The funds raised will be used to finance the acquisition of CEZ Group’s Bulgarian subsidiaries and to invest in the development of the group’s two main businesses – energy and insurance, said Vasil Stefanov, Eurohold’s director of development.

Eurohold will offer for subscription more than 79 million new shares, with a nominal value and a price of 1 lev and 2.50 lev.

The public offer will be considered successful if at least 40% of the new shares (31.6 million shares) are subscribed and paid.

Earlier this year, Eurohold received the latest approvals to take over seven subsidiaries of the CEZ group in Bulgaria, including 67% of the largest electricity company, CEZ Distribution Bulgaria.

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