Bulgaria-based Eurohold plans to increase its share capital by BGN 80 million through preferred shares, the new total reaching BGN 277 million. The capital growth will help the company to reduce its debt and support expansion plans.
Euroins Insurance Group AD, Eurohold’s insurance holding, will seek the approval of its shareholders for the capital hike at an extraordinary general meeting to be held on April 22, 2019.
Eurohold will propose issuing approximately BGN 80 million in new preferred shares with a nominal value of BGN 1 each and an issue price of BGN 1.95 per preferred share. Eurohold will consider the capital hike successful if at least 25.3% (20 million) of the new preferred shares are subscribed to and paid in full.