Financial and industrial group Eurohold Bulgaria plans to go public on the Warsaw Stock Exchange (WSE), its supervisory board chairman Assen Hristov said on July 28 2011.

The company has also been cleared by its management board to increase share capital through a new share issue, which aims to raise 61.56 million leva, increasing the company's capital to 144.86 million leva..

The capital hike is part of Eurohold's plans for its listing in Poland, Hristov said. The shares, however, will be first placed on the Bulgarian stock market, as the company will need to wait two months after the flotation to launch the shares for trade on the bourse in Warsaw.

Meanwhile, Eurohold's main shareholder, Starcom Holding, will sell part of the group's existing shares to Polish investors, thus cutting its stake in the company. After the deal, Starcom will subscribe for a portion of the new stock in order to increase its holding to about 50 per cent, Hristov said.

Expat Capital, which holds 20 per cent of the group, will likely retain its stake in Eurohold, according to Hristov.

sofiaecho.com