June 6 (SeeNews) - Bulgaria's Financial Supervision Commission (FSC) said it has returned the initial public offering (IPO) prospectus of IT company Allterco, saying it was incomplete and should be revised.
The regulator has prescribed instructions to Allterco to correct the inconsistencies as well as to provide additional information
in the prospectus, FSC said in a press release on Friday.
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FSC did not specify the period for revising the prospectus, however it is usually up to one month.
Allterco filed the IPO prospectus to the country's financial regulator in March. The company, which develops software for telecoms and smart controllers declined to reveal details about its IPO plans, saying that more information will be disclosed after the prospectus gets the watchdog's approval.
Allterco is a mobile services provider, with offices in Bulgaria, Romania, Macedonia, Serbia, Kosovo, Hungary, Germany, Singapore, Malaysia, and the U.S. It offers direct and indirect access to almost 1 billion users worldwide.