BULGARIA: Listing for Pirinsko Pivo

The Bulgarian brewer, Pirinsko Pivo, is to be listed on the Bulgarian Stock Exchange following a decision reached at a general meeting of shareholders on July 5. The company's majority shareholder is the investment fund, Zlaten Lev. Pirinsko Pivo was publicly listed until May 2001 but was removed as its capital fell below BL200,000 ($100,600/€103,000). The company subsequently raised its capital to BL1.03m ($518,000/€530,900). In 2001, Pirinsko Pivo produced 40.9m litres of beer, with sales revenues reaching BL17m ($8.5m/€8.8m). Volumes in 2002 are expected to reach 50m litres and the company is aiming to raise its market share from 9.5% to 12%.