MILAN — Nicola Bulgari, vice chairman of the Roman jewelry firm, sold 4 million shares, or 1.33 percent of the share capital, to Italian and international institutional investors to finance “personal projects.”
According to a company statement, both Paolo Bulgari, chairman, and Francesco Trapani, chief executive officer, agreed to the transaction as it doesn’t impact the control of the company. Bulgari’s shares were allotted in the shareholder’s agreement. Bulgari shares dropped 2.84 percent to 5.98 euros, or $9.01 at current exchange.
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