Industrial Holding Bulgaria has generated 42.006 mln leva (2.147 mln euros) form its capital increase procedures, the company told BSE.

Investors subscribed 17.503 mln shares at 2.40 leva each. Thus, the holding's capital grows from 26.254 mln leva (14.423 mln euros) to 43.757 mln leva (22.372 mln euros).

The company will use the funds to finance its naval business.

Industrial Holding Bulgaria posted Jan – Sept net consolidated profit in the amount of 9.7 mln leva (4.960 mln euros), versus 6.81 mln leva (3.481 mln euros) last year.

Shareholders are a little more than 55,000 individuals, controlling around 25% of the capital, and 100 legal entities, holding 75%. Major shareholders are Venside Enterprises Milited with 31.36%, Bulls with 12.10%, and DZI with 6.03%. All of them have subscribed new shares issued in the capital increase.

Almost all pension funds in Bulgaria own shares of Industrial Holding Bulgaria. Most mutual funds have also invested in the holding. Among foreign investors are UBS, Raiffeissen, Zentralbank, Bank of New York, Bank Austria Credtitanstalt, NGB, Hansapank, Clients, ABN Amro Bank, Mei-Roemine, EFG Eurobank, Dasnke fund and/or their clients.

19,062 shares, worth 114,000 leva changed hands on BSE yesterday.