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Utex Holding PLC was created in 1996 as a privatization fund with the goal of taking part in the privatization wave in the 90s by acquiring shares in various companies.
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Following the privatization process Utex Holding PLC acquired majority stakes in six companies from different sectors including food and beverage, textiles, manufacturing of alcoholic beverages and hospitality.
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In 1998 Utex Holding PLC completed a successful IPO on the Bulgarian Stock Exchange.