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Successful auction for sale of rights from BULSTRAD VIENNA INSURANCE GROUP capital increase


On that day, 27 August 2009 a public auction for sale of unsubscribed rights for BULSTRAD VIENNA INSURANCE GROUP capital increase was successfully carried out on Bulgarian Stock Exchange.

Offered and successfully sold at the auction were all unexercised so far rights - 62 614 units, which give right to participation in the issuer’s capital increase.

BULSTRAD VIENNA INSURANCE GROUP increases its capital under the condition of primary public offering of 179 455 ordinary dematerialized shares with right to vote with nominal value of BGN 10 (ten leva) and issue value of BGN 56 (fifty six leva), pursuant to a resolution passed on 15 April 2009 by the General Meeting of Shareholders for increase of the capital from BGN 19 740 000 to BGN 21 534 550.

In term until 11 September 2009 the investors who brought rights at the auction may apply for subscription of shares against the rights they own at TBI Invest - the investment intermediary serving the capital increase. Until the same date is the term for payment of the issue value of the new subscribed shares to the especially opened fund-raising account - IBAN BG37 PIRB 8068 5602 6623 68, on the name of BULSTRAD VIENNA INSURANCE GROUP, at Piraeus Bank Bulgaria AD.

After the term for payment of new shares expires, BULSTRAD VIENNA INSURANCE GROUP shall apply for capital increase entry in the Trade Register, the register of Financial Supervision Commission and shall request for the new shares to be admitted to trading on the stock exchange.

With the capital increase the company aims to ensure stable development conditions through customer base expansion and insurance portfolio diversification, introduction of new products that meet increased customer requirements, as well as to maintain the stability of BULSTRAD VIENNA INSURANCE GROUP financial indicators. 
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