Bulgaria To Launch Bourse Auction for Stakes in 20 Cos on Nov 7

Bulgaria To Launch Bourse Auction for Stakes in 20 Cos on Nov 7

Bulgaria will offer for sale its minority stakes in 20 companies in a bourse auction, which will kick off on November 7, the privatisation agency said.

In the auction, which will run through November 21, Bulgaria will offer for sale a total 704,276 shares, equivalent to a 0.29% stake in local industrial group Chimimport at a minimum sales price of 1.07 levs ($0.71/0.55 euro) each, the agency said in a statement on Tuesday.

The auction list also includes a 34.95% interest in Stara Zagora Commodity Exchange and a 29% stake in plywood exporter Lessoplast, among others.

As many as 15 companies will be offered for sale in exchange for non-cash instruments, while the rest of the deals involve cash payments.

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