Eurohold plans to raise up to €100 million via a new share issue on the BSE

Eurohold AD, the largest public holding in Bulgaria and one of the leading independent business groups operating in Southeast Europe, plans to increase its capital by issuing new shares on the Bulgarian Stock Exchange (BSE), which will allow the company to raise up to EUR 100 million. The proposal will be voted at an extraordinary general meeting of the shareholders on 10th April.

Eurohold AD will offer for subscription more than 79 million new ordinary shares with a nominal value and issue price of BGN 1 and BGN 2.50 apiece respectively. With reference to the capital hike Eurohold AD will publish a prospectus that should be approved by the Financial Supervision Commission. The public offering will be considered successful if at least 40% of the new shares (31.6 million shares) are subscribed and paid for. Euro-Finance AD will be the investment intermediary in relation to the placement of the new shares.

"The raised funds will be used to finance the acquisition of CEZ Group’s subsidiaries in Bulgaria and to invest in the development of the group's two main businesses - energy and insurance," said Vasil Stefanov, head of Mergers and Acquisitions at Eurohold AD.

The main shareholders in Eurohold AD, including the majority one - Starcom Holding AD, confirm their participation in the forthcoming capital increase. In case that own funds are needed for the finalization of the deal with CEZ Group before the procedure for the holding's capital increase is completed, the main shareholders in Eurohold AD are ready to provide them immediately through an alternative instrument and according to the share of the capital they own in the company.

Eurohold Bulgaria is a leading independent business group in the CEE/SEE/CIS region and the largest public holding in Bulgaria by revenues. It operates in the field of insurance, leasing, car sales, asset management and investment services. It is listed on the BSE and the WSE. It owns Euroins Insurance Group (EIG), one of the largest independent insurance groups in the CEE/SEE/CIS region, which operates in 11 countries and owns subsidiaries in Bulgaria, Romania, North Macedonia, Ukraine, Georgia, Russia and Belarus. EIG also operates in Greece and Poland, and has niche insurance operations in Spain and Italy. Currently the insurance group has more than 4 million clients and over 3000 employees.