History

DOVERIE – UNITED HOLDING JSC (DUH JSC) is the successor of the Doverie United Bulgarian Privatization Fund (Doverie UBPF).

  • In 1996, under the supervision of Oleg Nedyalkov and the United Bulgarian Bank (UBB) JSC, seven companies created the Doverie UBPF. Its founders were: UBB JSC; National Insurance Institute, Darik Radio JSC, Ever Financial House JSC, LIMEX Commercial Group JSC (specialising in training and qualification), Andema JSC (editors of one of the specialised content economic newspapers in Bulgaria) and Cresta Consulting LTD (specialising in the field of financial consulting services). Having more than 260,000 shareholders holding shares of around BGN 6.6 m, Doverie UBPF became the largest privatization fund, uniting 9 per cent of all emitted privatization bonds.
  • Around BGN 6.5 m were invested in the form of shares in a total of 174 companies during the three centralized auctions in 1996 and 1997.
  • In 1998, by decision of the General Meeting of the Shareholders, the fund was restructured in a holding.
  • In the period from 1998 to 1999, DUH JSC continued building its investment portfolio. The shareholdings of a few strategic companies were increased, while some of the shares in the companies regarded as short-term investments were sold. DUH JSC registered a number of subsidiaries as holding structures specialising in different economic sectors.
  • In 2000 DUH JSC underwent another restructuring, dividing its shares between two structures: Industrial holding – doverie(IHD JSC) and Doverie – Capital JSC. IHD JSC took control of the privatized companies, and Doverie – Capital JSC took control of the new investment projects and companies in which DUH JSC had strategic partners.
  • In 20072008 Sopharma JSC acquired a large number of shares in DUH JSC and became the main shareholder of the holding. As of late 2017, the share of the pharmaceutical company has been more than 32 per cent of the capital of DUH JSC.
  • By decision of the General Meeting of the Shareholders, the capital of the company was increased to BGN 13,150,000 in July 2004. In 2008 a new increase ensued, and the capital grew to BGN 14,006,093, and later in July 2012 it became BGN 18,736,099.