IHB Shareholders To Discuss Floatation of Convertible Bonds

IHB Shareholders To Discuss Floatation of Convertible Bonds

The shareholders of Industrial Holding Bulgaria (IHB) will discuss at a general meeting, scheduled for June 30, the floatation of a new convertible bond issue. The Bulgarian Stock Exchange (BSE) said.

The shareholders will also put to vote a proposal for the distribution of the profit of the holding company.

Shareholders on record with the Central Depository as at June 16 will be able to exercise their vote at the meeting.

IHB shareholders voted more than a year ago to raise the company's capital by converting convertible bonds into common stock.

The capital raise was conducted through the converting of up to 5.25 mln personal, dematerialized convertible bonds into regular, personal, dematerialized voting shares.

He bonds and the shares were converted at a ratio of 1 to 1 on July 2, 2007, the bonds' date of maturity. The capital of the holding a company amounted to 21 mln leva at the time. The issued capital of IHB currently amounts to 43.76 mln leva following its latest increase last year.

A total of 17,749 shares in IHB have changed hands so far today. The stock has appreciated by 0.27% to an average of 7.33 leva per share.

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