Nicosia, Cyprus. CPI Holdings Public Limited on Thursday issued a supplementary announcement to the Cyprus Stock Exchange regarding the sale of its 100 per cent stake in Debt CPI Bulgaria ADSIC, following its earlier disclosure dated June 9, 2026. The update concerns the disposal of 650,000 ordinary registered dematerialised shares, representing the entire share capital of the Bulgarian entity.
Supplementary announcement
The company said the announcement was made in accordance with Cyprus Stock Exchange regulations.
Transaction rationale
CPI Holdings said its core business model is based on identifying, acquiring, holding and later selling companies or controlling stakes for profit, and described the transaction as part of its ordinary investment cycle.
The company said the Bulgarian subsidiary was a non-core, underperforming asset structured as a special purpose vehicle and licensed by the Bulgarian Financial Supervision Commission for receivables collection and trading activities.
The board said the decision to divest followed a standard holding period and was taken to realise appreciated investment value. It added that no external advisers were involved in the decision to sell.
Subsidiary details
The target company, formerly known as Lev Invest ADSIC, is headquartered in Sofia and is listed on the Bulgarian Stock Exchange. Its structure is based on 650,000 issued shares and a regulated investment licence.
Acquisition and valuation
CPI Holdings acquired full ownership on October 5, 2024 through two over-the-counter transactions executed via Sofia International Securities AD, a licensed Bulgarian intermediary, at a purchase price of 0.0683 Bulgarian lev per share, amounting to approximately €22,700.
According to financial information as of October 31, 2024, the investment was carried at zero fair value on a mark-to-market basis, reflecting the absence of material net asset value or meaningful earnings from the subsidiary.
The company said the Bulgarian entity had not generated significant revenue or profit during the holding period and had no substantive operations, with its value primarily derived from its listed status and regulatory licence.
Sale terms
CPI Holdings confirmed that the sale was agreed for a total consideration of €66,300 in cash, equating to €0.102 per share. It said settlement was carried out on a delivery versus payment basis under a T+2 cycle through licensed intermediaries, with final transfer completed via the Bulgarian Central Depository AD.
