The largest public energy holding in Bulgaria - Eurohold Bulgaria AD, owner of the Electrohold group and Solars Energy EAD, has launched a procedure for admitting the company's shares to the Frankfurt Stock Exchange following a decision by the company's board of directors.
The process envisages that the securities will be registered for trading on the highest sub-segment of the Frankfurt Stock Exchange – Prime Standard. Eurohold shares are currently traded on the premium segment of the Bulgarian Stock Exchange (BSE) as well as on the main market of the Warsaw Stock Exchange (WSE).
The Frankfurt Stock Exchange, owned by Deutsche Börse AG, is one of the largest and most established stock exchanges in the world and the main securities market in Germany. Its DAX index is the main stock index of the Bundesrepublik, reflecting the performance of the 40 largest and most liquid companies in the country. Frankfurt is the financial capital of Germany and one of the most important
global economic centers. The listing of Eurohold shares on the Frankfurt Stock Exchange is expected to significantly increase the liquidity of the shares and attract the interest of leading international institutional investors.
“Our decision is dictated by signals of significant interest in the company's shares from international institutional investors, especially after the separation of Eurohold as a fully energy holding. The listing in Frankfurt will make the holding's shares available to many more investors and will provide us with even more opportunities for financing and business development,“ commented Kiril Boshov, Chairman of the Board of Directors of Eurohold. “Europe is undergoing a large-scale energy transformation and electrification. Eurohold is not just a part of this process, but its engine. From this point of view, we believe that the holding's shares will attract serious attention from large investors on the Frankfurt Stock Exchange and will be valued correctly,“ said Assen Hristov, Chairman of the Supervisory Board of the holding.
The procedure for admitting the company's shares to the Frankfurt Stock Exchange provides for the listing of all 520,940,000 (five hundred and twenty million nine hundred and forty thousand) ordinary, non-preferred, registered, dematerialized, freely transferable shares of Eurohold with ISIN code BG1100114062, each with the right to one vote at the General Meeting of Shareholders and with a nominal value of 0.51 euros.
A prospectus is not required for admission to trading under European Regulation (EU) 2017/1129 and for this reason the management board of the holding approved the preparation of the so-called information document in the form of Annex IX to the Regulation, which contains the basic information that investors need to understand the nature of the company and the risks associated with it and the securities. The document in question will be submitted to the Bulgarian regulator - the Financial Supervision Commission (FSC), and published publicly.
Applications for admission to trading on the Frankfurt Stock Exchange will also be made for the shares from future capital increases of Eurohold, including, but not limited to, as a result of exercising the rights under the warrants already issued by the holding company (ISIN BG9200007243 and ISIN BG9200002269), in accordance with the applicable legislation of the Federal Republic of Germany. Consultants and coordinators of the procedure for listing Eurohold shares on the Frankfurt Stock Exchange will be the Bulgarian and German investment intermediaries - Sustainable Business Solutions EAD and Wolfgang Steubing AG. The necessary contracts and agreements for the successful implementation of the cross-border settlement and the start of trading are pending.