Holding Patishta To Perform A Split And Another Capital Increase

Holding Patishta To Perform A Split And Another Capital Increase

Holding Patishta ()  is to appoint a general meeting of shareholders to vote a proposal to reduce the face value of its shares from 25 leva to 1 lev.

The news was announced today by Orlin Hajiyankov, chairman of the Board of Directors during the official presentation of the company's strategic program.

At the moment the company's capital stands at 432,000 leva (220,878 euros) allocated in 17,280 shares with a face value of 1 lev. The split will probably increase the number of shares and reduce their face value.

Two new holdings will be established - Maintenance and Reconstruction Holding and Roads and Freeways Holding. The company will also acquire the Dobrich-based Road Construction and Maintenance.

Holding Patishta plans to expand to Romania, Serbia, Montenegro, Macedonia, and Albania. The company will be trying to sign contracts for projects in those countries.

Hajiyankov also said that the contracts that Holding Patishta has for the next three years are worth a total of 378.65 mln leva (193.60 mln euros). The company's investment program is worth 111.66 mln leva (57.090 mln euros).

Just 7 shares changed hands on the position today at 37,557 leva. Bids are currently at the maximum for the tomorrow session – 48 824.10 leva.

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