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Hong Kong-based 235 Holdings hikes stake in Bulgaria's Green Town Projects

Hong Kong-based 235 Holdings hikes stake in Bulgaria's Green Town Projects Author: Ken Teegardin. Licence: Creative Commons, Attribution-ShareAlike 2.0 Generic.

SOFIA (Bulgaria), June 16 (SeeNews) - Bulgarian real estate developer Green Town Projects [BUL:GT2] said that Hong Kong-based shareholder 235 Holdings Limited raised its direct equity interest in the company to 31.61%.

The Asian company increased its stake as a result of a transaction carried out on Tuesday, Green Town Projects said in a bourse filing on Wednesday.

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As of June 7, 235 Holdings Limited held a 25.77% interest in Green Town Projects, after lifting its ownership in the Bulgarian property developer from 17.72% in three consecutive deals starting June 3, a separate stock exchange statement showed.

In the first quarter of 2022, Green Town Projects swung to a consolidated net loss of 23,000 levs ($12,228/11,760 euro) from a consolidated net profit of 715,000 levs in the first three months of 2021.

Set up in late 2018, the Sofia-based company is active in the purchase of real estate, real estate leasing as well as engineering and construction. It went public in April 2019, with 235 Holdings Limited gradually reducing its controlling stake since then.

Shares in Green Town Projects last traded at 18.0 levs apiece on the BaSE market of the Bulgarian Stock Exchange (BSE).

(1 euro = 1.95583 levs)

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