Britain's Universities Superannuation Scheme (USS) has bought 250,000 shares of Bulgarian Land Development (BLD) for just over £213,000 (EUR 315,000), increasing its holding in the company to over 1.7 million shares.
Britain's Universities Superannuation Scheme (USS) has bought 250,000 shares of Bulgarian Land Development (BLD) for just over £213,000 (EUR 315,000), increasing its holding in the company to over 1.7 million shares.
Bulgarian Land Development, which focuses on residential and tourist development, issued a statement this week to the London Stock Exchange about the transaction that took place last week. It said USS now controls 6.9% of the entire issued ordinary share capital of the company.
USS, the second largest pension fund in Britain, already had a large central European real estate portfolio, pensions magazine IPE reported. BLD was admitted to the AIM market in London in March 2006, following a share placing which raised gross proceeds of £23 mln at 100 pence per share.
