Bulgaria To Start Listing Stakes in Energo-Pro Units Oct 3

Bulgaria To Start Listing Stakes in Energo-Pro Units Oct 3

Bulgaria said on Tuesday it will launch the listing of its minority stakes in two local companies majority owned by Czech energy company Energo-Pro on the bourse in Sofia on October 3.

A total of 434,940 shares of Energo-Pro Grid and 495,330 shares of Energo-Pro Sales will be offered for privatisation through the bourse, the government's privatisation agency said in a press release.

Sofia-based First Financial Brokerage House will manage the sale.

The two companies are majority owned by Energo-Pro Bulgaria EAD, a wholly-owned subsidiary of privately held Czech energy provider Energo-Pro.

Energo-Pro said late last year it was set to acquire the majority stakes in E.ON Bulgaria Grid and E.ON Bulgaria Sales from E.ON Bulgaria, a unit of Germany's E.ON, for a total of 133 million euro ($172.2 million). The transfer of ownership of the majority stakes in E.ON Bulgaria Grid and E.ON Bulgaria Sales was completed on June 29 and the new owner renamed them to Energo-Pro Grid and Energo-Pro Sales earlier this month.

Energo-Pro Grid has a registered share capital of 1.318 million levs distributed in 1,318,000 shares with a face value of 1.0 lev ($0.66/0.51 euro) each. Energo-Pro Sales' registered capital of 1.501 million levs is distributed in 1,501,000 shares with a face value of 1.0 lev each.

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