Bulgaria's Eurohold to raise up 100 mln euros in capital increase

EuroHold Bulgaria AD

02/03/2021 08:34

SOFIA, March 2 (Reuters) - Bulgarian financial group
Eurohold  EUBG.BB  said on Tuesday it plans to raise up to 100
million euros ($120.10 million) in a capital increase to help
finance the purchase of Czech utility CEZ  CEZP.PR 's assets in
Bulgaria.
    Eurohold has won regulatory approvals to finalise a
long-delayed 335 million euro ($406.22 million) deal with CEZ,
which includes a power distributor that provides electricity to
over 2 million people.  urn:newsml:reuters.com:*:nL1N2JU0UO 
    The company plans to hold an extraordinary shareholder
meeting on April 10 to approve offering slightly above 79
million new shares at a price of 2.5 levs per share at the Sofia
Stock Exchange. It would consider the issue a success if 40% are
subscribed.
    Eurohold has said it would finance the acquisition through a
combination of equity and borrowed capital provided by leading
global investment banks. The deal is expected to be finalised in
the second quarter.
    Shares of Eurohold were trading at 2.58 levs per share on
Wednesday.  
($1 = 0.8326 euros)

 (Reporting by Tsvetelia Tsolova, editing by Louise Heavens)
 ((tsvetelia.tsolova@thomsonreuters.com; +359-888-311-435;))