United Bulgarian Bank JSC - Sofia - Short Company profile

Entrepreneur and business property consultant Assen Lisev has withdrawn from the "Bravo Property Fund" REIT he created and managed both as a private individual and through the company "Bravo Hold A", of which he is the sole owner. Until now, he owned the controlling stake in the special purpose joint-stock company established in 2017. Now, "Bravo Property Fund" includes companies related to the "Chimimport" group. On June 9, a total of 25.7 million shares of "Bravo Property Fund" were traded on the Bulgarian Stock Exchange at prices of 0.53-0.54 euros for a total of 13.8 million euros. Assen Lisev has sold his share of 33.02% of the shares. He has traded 118,672 shares on the Bulgarian Stock Exchange, representing 0.32% of the capital of "Bravo Property Fund" REIT. On the same day, his sole proprietorship "Bravo Hold A" sold 12 million shares, representing 32.70% of the fund's capital. In addition to Assen Lisev, at the same time, Pavel Tomasz Sudzharski Kshonzek, who owns 5.45% of the capital of "Bravo Property Fund" REIT (2 million shares), also parted with his shares. Through his company "Black Sea Development", he also had another 24.82% of the capital (9.1 million shares). The chairman of the board of directors of the fund until July - Konstantin Prodanov (now a deputy from "Progressive Bulgaria" and chairman of the budget committee) also parted with his shares. As minority shareholders with over 8%, pension funds of "Doverie" and Horizon Platinum Portfolio - a mutual fund from the UBB group remain. The company's shareholders include "Synergy Invest Holding" AD, which bought 7.15 million shares of "Bravo Property Fund" (19.48%). Another 32.7% of the capital was acquired by "Business Property Consult" (12 million shares and voting rights). A little later, the remaining 17.91% of the shares became the property of Texim Bank (6.6 million shares). These are companies, in one way or another connected to the "Chimimport" group. After the separation, only "Office Building A" on "Ivan Abadzhiev" Street in the area of ??The Mall remains in the assets of "Bravo Property Fund". This is a six-story building with about 14 thousand sq m of area and 242 parking spaces, built in 2019. Its total area is less than 9%, which makes it "one of the buildings with the most efficient floor areas in Sofia". Tenants in it are Mbition, Sterling Shared Offices, Gestion, Genius Sport Services. In March 2024, the building was mortgaged to UniCredit Bulbank for a loan of 14.4 million euros. In May, an old mortgage to UBB was canceled. In February 2025, the building was mortgaged again for a loan of 7 million euros from UniCredit Bulbank - a loan for the purchase of the "Office C4" building. The balance sheet for the first six months of 2026 shows that his liabilities to banks total 19 million euros. This is the first office project of Asen Lisev as an investor. He is a partner in it with Pavel Tomasz Sudzharski Kshonzek. In 2019, they sold the project company "Office A" to "Bravo Property Fund" for 59.5 million leva. And now in the fund's assets the property is valued at a similar value - 33.4 million euros. The general meeting of shareholders decided to sell its entire shares in the office building under construction "Office C4" at a price not lower than 6 million euros. The buyer is "Bravo Home" - another company with sole owner Assen Lisev. This EADSIC was registered in May 2025 with a capital of 332,339.67 euros. "Office Building C4" is a building under construction, which is located in the immediate vicinity of two large-scale office projects of Asen Lisev in "Hladilnika" - the complex of four buildings Office X with an above-ground area of ??53 thousand sq m, in which he is a partner with Spas Shopov from Rosslyn, and the office building under construction Bravo Sky with 45 thousand sq m of above-ground area, which was the largest construction permit in Sofia for 2024. In July, DSK Bank lent "Bravo Development" 28.5 million euros, apparently for the construction of "Bravo Sky", with the building and the 13 decares of land being mortgaged against the loan. "Office Building C4" is a seven-story building with two underground floors with a total area of ??only 5,610 sq m and 42 parking spaces. Its typical floor is between 400 and 500 sq m and has a panoramic terrace of 450 sq m. According to the plan, it should be completed in 2026. The fund acquired it in April 2025 from "Bravo Development" - another company, of which Assen Lisev is now the sole owner, although for a short time he was a partner there with Ivan Assenov - one of the shareholders in the Hus Invest holding. In September, the building was mortgaged against a loan of 7 million euros from Allianz Bank Bulgaria. In 2022, Assen Lisev, together with the Assenov brothers from Hus Invest, invested in a residential project in "Mladost 4" - the gated complex "Iris Park". He is now building the Cherry Garden residential complex in the "Tolstoy" quarter. At the end of 2025. At the end of 2024, it bought a 5.5-acre plot of land next to Mall of Sofia - on Gen. Skobelev Blvd. and Sredna Gora St., donated at an assessment of almost 4 million euros to the Skobelev Construction company. Bravo Development acquired the Siemens office building on Kukush St. and the adjacent land, where it will build housing. A few days ago, Bravo Development acquired a corner plot above the Opalchenska metro station with a construction permit for a 22-story mixed-use building with a total built-up area of ??23.5 thousand sq m. It seems that this is a 1.2-acre plot on the corner of Todor Alexandrov Blvd. and the small Shar Planina street. The permit for it dates from the beginning of 2024 and is in the name of three companies - "Post Art", "P Records" and "Terra Build", and several individuals. It is for a public service building with offices, studios, showrooms, a cafe, a snack bar, underground garages and a transformer substation. The permitted above-ground area is 18.6 thousand sq.m. of gross floor area, and the foundation of the building will occupy 0.9 decares. The deal is through the company "SK Building 7", where the property was donated at an assessment of 2.12 million euros. "Business Property Consult" is a subsidiary of the public "Phoenix Capital Holding". The majority owner in it with just over 60% is the Dubai-based company Lorraine Marketing Services, but with just under the maximum allowed 7% are the universal pension funds of "CCB Sila" and "Saglasie" - parts of the two parallel financial groups related to "Chimimport" - centered around the Central Cooperative Bank and Teximbank, respectively. For a long time, "Phoenix Capital Holding" was also the largest shareholder in Black Sea Fund, through which the group controls a number of properties, such as the "Gradina" camping site and the former headquarters of "Biochim" bank in the center of Sofia. In mid-July, Ralitsa Dragneva, who is also a director of "Phoenix" and a number of other resort companies in the orbit of "Chimimport" such as the acquired "Grand Hotel Varna", was listed as the executive director of "Bravo Property Fund". Boyan Petkov and Lyudmil Lazarov are included in the board of directors. The latter recently - in early 2025 - was briefly the executive director of the State Consolidation Company, and in 2022 he was on the board of a company under the Sports Ministry. Earlier in his biography, around 2007-2008, there was a period as chairman of the board of the insurer "Lev Ins". At the dawn of the transition, he was on the board of Hemus Bank, and then deputy chairman of the Central Cooperative Union and as such a commercial representative of the Central Cooperative Bank in the period around its privatization and the entry of "Chimimport" into it. The other new more significant shareholder - "Synergy Invest Holding", is the new name of the Gabrovo public "Simat". Now the shareholders are several EOODs, indirectly associated with "Chimimport" over the years. In 2024, it also placed a bond issue for 26 million leva, where the pension funds of "CCB Sila" and "Saglasie" were again major investors.