Short Company profile

 

The joint venture of the Bulgarian Stock Exchange (BSE) and eight investment intermediaries, which will invest in shares of beam companies listed on the SME market – “IPO Growth”, is seeking 11.55 million leva from investors. The company will be listed on the BSE’s main market, “Standard” segment. The Financial Supervision Commission (FSC) approved the company’s prospectus at its last meeting. The exchange subscribed 40 thousand shares, or 40%, of the capital of “IPO Growth” at the end of January. The company has a single-tier management system, with a three-member board of directors consisting of Manyu Moravenov, Evgeni Nedev and Svetozar Abrashev. The executive director of the BSE, Manyu Moravenov, has been elected chairman of the board of directors. “IPO Growth” will issue 10.5 million shares with a nominal value of 1 leva each and an issue value of 1.1 leva. The increase will be considered successful if at least 10 million shares are subscribed, i.e. if 11 million leva is raised. The funds that the company raises will be sufficient for investments over the next three years at least, according to the prospectus. The capital will be used to participate in beam's initial public offerings and capital increases of the companies in which the company has invested. According to the strategy of "IPO Growth", it can subscribe no more than 30% of the amount of an IPO and have no more than 20% participation in the capital of one issuer.

 

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