Bulgaria To List Minority Stakes in Plovdiv Fair on Sofia Bourse
Bulgaria's government is about to list 49% state-owned stake in the operator of the Plovdiv international fair on the local stock exchange, following the successful privatisation of its 33% equity in the local power distribution units.
An official decision on the sale is expected within a week or two, Capital Daily reported, quoting unnamed sources.
However, since the privatisation procedure requires the selection of an investment firm to prepare the listing prospectus, the shares are unlikely to be put up for sale before the first quarter of next year.
Local businessman Georgi Gergov holds 51% of International Fair Plovdiv.
Earlier this year the government challenged in court the fair operator's capital hikes in 2006 and 2007 through which Gergov became a majority owner. The Supreme Court of Cassation, however, dismissed the claim.