At its meeting held 1 October 2007, the Board of Directors in Holding Nov Vek (

) has decided to increase the company's capital from 649,620 leva (332,145 euros) to 1,558,710 leva (796,955 euros), BSE reported.

The company will issue 909,090 new, ordinary, paperless, voting shares with a face value of 1 lev, and issue value of 22 leva each. If all offered shares are subscribed and paid, the company will raise some 20 mln leva (10.225 mln euros).

The Board of Directors has appointed Central Cooperative Bank as investment intermediary responsible for servicing the procedures.

The executive director was authorized to take all necessary steps in order to file a prospectus with the Financial Supervision Commission within the regulated timeframe.

As we have already informed the holding controls 9.33% of the capital of Bulgarian River Shipping AD.

305 shares changed hands on BSE today at 25.13 leva. The stock price has increased more than 4.5 times over the past month.