The FSC approved the prospectus for capital increase of Eurohold

The Financial Supervision Commission (FSC) has approved the prospectus for capital increase of the largest public holding in Bulgaria and one of the leading independent financial and insurance groups in Southeast Europe - Eurohold. In March, the company announced that it would increase its capital by issuing new shares on the Bulgarian Stock Exchange AD, Banker recalls.

This procedure will allow the holding to accumulate up to EUR 100 million of own funds through the issue of new shares on the Bulgarian Stock Exchange AD. Eurohold will offer for subscription 79,010,240 new dematerialized, registered, non-preferred shares, with voting rights, with a nominal value of BGN 1 and an issue value of BGN 2.5 each, and the capital will increase from BGN 197,525,600 to BGN 276,535,840.

The accumulated funds will be used to finance the acquisition of CEZ Group companies in Bulgaria and to invest in the development of the holding's two main businesses - energy and insurance. The acquisition of CEZ Group's companies is part of Eurohold's strategy to enter new regulated markets in Southeast Europe and to create a leading regional utility company. The deal is expected to be completed within the first half of the year, and financing has already been secured before Eurohold's capital increase.

The Czech group owns in Bulgaria: CEZ Bulgaria EAD, CEZ Electro Bulgaria AD, CEZ Distribution Bulgaria AD, CEZ Trade Bulgaria EAD, CEZ ICT Bulgaria EAD, the photovoltaic park Free Energy Project Oreshets and the company for production of electricity from biomass "Bara Group".

The manager of the public offering of the new shares will be the leading investment intermediary in Bulgaria - Euro-Finance AD, and Renaissance Capital is engaged only in its capacity of financial consultant on the issue.

During the week, Eurohold announced that the company had assigned J.P. Morgan AG to be the leading and exclusive manager in structuring the debt financing of the deal with CEZ Group.

Eurohold Bulgaria AD is a leading independent financial and insurance group in Central and Southeastern Europe and the largest public holding company in Bulgaria in terms of revenue. The company operates in insurance, leasing, car sales, investments and asset management.

Its shares are traded on the stock exchanges in Sofia and Warsaw. Since the beginning of this year, the shares of Eurohold have added 83 stotinki to their price on the BSE and currently they cost BGN 2.50 per unit. And this estimates the company at BGN 493,814,000.

Eurohold is the owner of Euroins Insurance Group AD, one of the largest independent insurance groups in Central and Southeast Europe. Euroins Insurance Group AD operates in 11 European countries, owning insurance companies in Bulgaria, Romania, Northern Macedonia, Ukraine, Georgia, Russia and Belarus. The group also operates in Greece and Poland, performing niche operations in Spain and Italy. Euroins Insurance Group AD serves 4 million customers and has over 3,000 employees.