Bulgarian financial group EUROHOLD said that shareholders have approved the company's plan to increase share capital by BGN 80 million to BGN 277 million via a new share issue. The shareholders' nod was given at an extraordinary general meeting earlier today.

EUROHOLD will issue up to approx. 80 million new preferred shares with a nominal value of BGN 1 each and an issue price of BGN 1.95 per preferred share. In this way, the holding company could raise up to 154 BGN million (EUR 78.8 million). "The proceeds from the capital increased will be used to strengthen the Group's capital position and expansion".

Detailed information is contained in the prospectus for public offering of securities, which has already been submitted to the Financial Supervision Commission for approval. Euro-Finance AD is one of the largest investment intermediaries in Bulgaria and the manager of the capital hike.

Last week, EUROHOLD said that it has launched exclusive talks with CEZ for the acquisition of the Czech energy group's assets in Bulgaria. EUROHOLD Bulgaria's portfolio includes companies active in financial services, leasing, insurance and car sales. "The intention to acquire CEZ Group's assets in Bulgaria is part of Eurohold's long-term strategy to enter new regulated business segments with sustainable high growth potential".