Bulgaria's FSC suspends Tomov Development's squeeze-out bid for Velina

Bulgaria's FSC suspends Tomov Development's squeeze-out bid for Velina

Bulgaria's Financial Supervision Commission (FSC) said that it has suspended the publication of local Tomov Development's squeeze-out bid for hotel operator Velina.
Tomov Development is seeking to acquire 8,560 shares in Velina, the FSC said in a statement on Tuesday.
The regulator did not provide further details in its statement.
In December 2019, Tomov Development has increased its stake in Velina to 99.43% via a buyout offer priced at 8.40 levs ($4.74/4.29 euro) per share. Subsequently, Tomov Development acquired a further 38 shares in the company upon the request of one of the minority shareholders.
Velina shares last traded on the Bulgarian Stock Exchange at a price of 8.35 levs.

Cookies Preferences
Choose Type of Cookies You Accept Using


These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.


These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.


These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.