Bulgarian Regulator Gives Green Light to Bourse Sale of State Stakes in CEZ Units

Bulgarian Regulator Gives Green Light to Bourse Sale of State Stakes in CEZ Units

Bulgaria's financial regulator said it approved the sale of the state-owned stakes of 33% in CEZ Electro Bulgaria and CEZ Razpredelenie Bulgaria on the bourse in Sofia.

A total of 1,650 CEZ Electro shares and 63,624 CEZ Razpredelenie shares will be offered for sale through the bourse, the Financial Supervision Commission (FSC) said in a statement on Friday.

CEZ Electro's issued capital is distributed into 5,000 shares, while CEZ Razpredelenie's issued capital comprises 192,800 shares. Each share has a par value of 10 levs ($6.6/5.1 euro).

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.

Earlier this month, FSC also approved the sale of the 33% state stakes in the two Bulgarian units of Czech Energo-Pro on the Sofia stock exchange.

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