The Bulgarian government has taken control of the Bulgarian Stock Exchange-Sofia, the country’s only stock exchange. Opponents have called the move a forced nationalisation, while the government says it is the prelude to seeking a strategic foreign investor, possibly for the government’s entire stake.
At an extraordinary general meeting on Monday, September 13, shareholders were asked to vote on a capital increase to which only the government could subscribe.
They considered a resolution to issue 715,000 new shares to the Ministry of Finance, which will pay Lev1 a share, a total of Lev715,000 (€366,000).
According to the bourse, 67% of shareholders were present to vote, out of which just over 88% voted in favour of the capital increase. A total of 11% resisted the...