UBS, JP Morgan Eye Bulgaria Lev Ins Capital

This file picture shows one of the Israeli shareholders in "Lev Ins,” Shaul Schneider (l) and the CEO, Stefan Sofiyanski. Photo by Lev Ins

Two of the biggest global financial institutions UBS and JP Morgan have declared interest in the capital of Bulgarian insurance Company “Lev Ins”, the company announced.

Stefa Sofiyanski, CEO of the company, is heading for a meeting with UBS and JP Morgan representatives, the company said on Sunday.

The issuing of an initial public stock offering (IPO) of the company and its listing on the London Stock Exchange will also be on the agenda of the meetings.

“Lev Ins” became tangled in the special police operation “Octopus” after the February 10 arrest of Aleksei Petrov and 13 other individuals charged with various crimes.

On February 23, the management of the Insurance Company declared the closing of some of their offices and the seizing of company documents by the police over the probe illegal prompting the Prosecutor's office to order the reopening of the “Lev Ins” central offices in Sofia.

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