Bulgaria's financial watchdog will investigate the technical aspects of the bourse transactions for the sale of state-owned equity in the Bulgartabac cigarette factories in Stara Zagora and Plovdiv. The probe was prompted by media reports and tip-offs received by the regulator last week.

Regardless of the outcome of the investigation, existing regulations have no provisions that would allow to cancel the bourse transactions.

Bulgartabac sold 78 per cent in the Stara Zagora factory for 18 million leva, while its stake in the Plovdiv factory fetched over 30 million leva.

Industrial and trade conglomerate Chimimport has reportedly confirmed that one of its subsidiaries bought the Stara Zagora factory. The core business of the company will be preserved and developed, Chimimport said.

The names of the buyers of the two factories will be revealed after the transactions are processed by the Central Depository.