Eurohold Bulgaria, owner of Euroins, intends to increase its working capital up to EUR 100 million by issuing new shares on the Bulgarian Stock Exchange (BVB). The main shareholders of Eurohold, including Starcom Holding AD, confirm their participation in the future capital increase.

Eurohold will offer for subscription more than 79 million new shares, with a nominal value and a price of ca. EUR 0,51 (BGN 1) and ca.EUR 1,28 (BGN 2.50). The public offer will be considered successful if at least 40% of the new shares (31.6 million shares) are subscribed and paid. Euro-Finance AD will be the investment intermediary for the placement of the new shares.

"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.

The main shareholders of Eurohold, , including the majority ones - Starcom Holding AD confirm their participation in the future capital increase and are ready to provide funds immediately. The proposal to issue the new shares will be voted on at an extraordinary general meeting of shareholders on April 10.

At the beginning of this year, Eurohold received the latest approvals to take over seven subsidiaries of the CEZ group in Bulgaria, including 67% of the electricity company - CEZ Distribution Bulgaria and the electricity supplier - CEZ Electro Bulgaria, respectively 100% from the shares of the electricity trader in Bulgaria - CEZ Trade Bulgaria.