Media group plans BGN 20m capital raise, buys finance university

Media Company (4IN BU) plans BGN 20m capital raise, according to the agenda of the upcoming extraordinary shareholders’ meeting scheduled for July 10th 2017. The Company plans to issue 1.594 million new shares with an issue price of BGN 12.95 per share and a nominal price of BGN 1 per share. Thus it will raise its share capital from BGN 3.19m to BGN 4.9m. No immediate details have been announced on the plans for the proceeds. is acquiring 90% of VUZF

According to Capital newspaper, is also considering acquiring a small finance university in Bulgaria – University of finance, business and entrepreneurship VUZF.

The newspaper quotes announcement by the company about contracting VUZF to acquire 90% stake or 63 000 shares in the educational institution. Contract was signed on 9 June 2017 according to the publication.
Main shareholder in VUZF so far is its president Grigoriy Vazov holding 95% of the capital. The remaining 5% belong to Detelina Smilkova, who is currently the vice-president of the university.

VUZF University is the first local private university specialized in the area of finance, insurance and social insurance, management and marketing, founded in 2002. The university has incorporated an educational system of the quality management of training and research, which has been certified by “Moody International” in accordance with the international quality standard ISO 9001:2000. In 2007 VUZF received an expanded Erasmus University Charter, which allows students to learn or practice in universities and institutions in member countries of the European Union (EU) and the European Economic Area.

More information on VUZF

More information on Media Group was first private company with IPO made the first IPO on the Bulgarian Stock Exchange back in 2004. This was the first IPO not conducted as part of a privatization process as the one in 1999, but as a wish of a private company to become public. offered 50% of its shares and raised BGN 1.07m. An interesting coincidence is that at the same time the first IPO on the Czech stock exchange was held. CEE pharma company Zentiva raised over USD 150m. in the IPO.

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