Bulls AD made a tender offer to acquire an additional 25.82% stake in Industrial Holding Bulgaria AD (BUL:IHB) from the shareholders for BGN 23.8 million on June 8, 2021. Bulls AD will acquire upto 25 million shares but not less than 15.8 million shares at BGN 0.95 per share. Prior to the transaction, Bulls AD held 37.61 million shares in Industrial Holding Bulgaria AD. No change in the place of business of Industrial Holding Bulgaria AD and in that of Bulls AD is envisaged during the offer period. Bulls AD does not plan to reduce or significantly increase the number of employees of Industrial Holding Bulgaria. For tender offer to be successful, Bulls AD must receive acceptances for 15.8 million shares in Industrial Holding Bulgaria. If, within the offer acceptance period, the number of shares deposited by all shareholders accepting the offer exceeds 25 million shares that Bulls AD has stated that it wishes to acquire, Bulls will purchase shares from each of the shareholders accepting the offer pro rata the shares they have deposited. The time limit for acceptance of the offer is 28 days after the publication date of the tender offer.