Financial services holding company Eurohold Bulgaria would expand its regional leasing business with the launch of Eurolease Auto Skopje in Macedonia. The new company is expected to be duly licensed and commence operation by September 2008.

Eurohold said that only four of the dozen leasing companies registered in Macedonia are active on that market. Eurolease Auto Skopje, which will operate as an auto leasing company, will work in close co-operation with Makosped, a local insurer owned by Eurohold.

Initial meetings have been held with banks interested in financing the operation of the leasing company, launched with a capital of 50 000 leva.

Eurohold Bulgaria plans raise the funds necessary to finance future growth by placing a 20 million euro bond issue. Eurohold also said on July 14 that it would raise the capital of three subsidiaries - Eurolease Auto Bulgaria, Eurolease Rent-a-Car and Eurolease Romania.