Bulgaria’s Tchaikapharma High Quality Medicines [BUL:7TH] said on Monday that its shareholders have approved a proposal to increase the company’s capital by 10 million levs () using part of the its net profit in 2018.
Tchaikapharma will distribute the newly-issued shares proportionally to the stakes of existing shareholders, the company said in a bouse filing.
The shareholders approved the proposal at a general meeting held on Monday.
Following the increase, Tchaikapharma’s registered capital will amount to 82.2 million levs.
Tchaikapharma’s shares last traded on the Bulgarian Stock Exchange at a price of 9.55 levs each.
Tchaikapharma’s portfolio includes over 150 pharmaceutical products.