BULGARIAN NATIONAL BANK TO TRANSFER STAKE IN CENTRAL DEPOSITORY TO FINANCE MINISTRY
The management board of Bulgarian National Bank (BNB) has decided to transfer its 20 per cent stake in the Central Depository to the country's Finance Ministry, the central bank said in a statement on May 14 2011.
BNB will sell its 2000 shares in the Central Depository at their nominal price of 100 leva each. Should the state find a strategic investor for the institution, BNB will also get the difference between the nominal and selling price of the stock.
The transfer comes to support the strategy of the Finance Ministry, approved earlier, which targets to integrate the Bulgarian Stock Exchange and the Central Depository into the global financial markets. The scheme also promotes the endorsement of the country's capital market as infrastructure centre of international markets in the region
