Bulgaria to List Stakes in CEZ Units Oct 29

Bulgaria to List Stakes in CEZ Units Oct 29

Bulgaria will list the 33% state-owned stakes in CEZ Electro Bulgaria and CEZ Razpredelenie Bulgaria on the bourse in Sofia on October 29, the country's privatisation agency said on Thursday.

A total of 63,624 shares of CEZ Razpredelenie Bulgaria and 1,650 shares of CEZ Electro Bulgaria will be offered to investors via the bourse, the agency said in a press release.

Bulgaria's Central Cooperative Bank (CCB) [BUL:4CF] will act as investment intermediary.

The two companies are majority owned by Czech power utility CEZ. CEZ Electro supplies electricity to over 1.9 million customers in the Sofia region and parts of western and northern Bulgaria. CEZ Razpredelenie, which operates in the same region, is licensed for the transmission and distribution of electricity and the operation of the distribution grid.

Bulgaria already sold its 33% stakes in the local units of Austria's EVN and Czech energy group Energo-Pro.

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