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Nov 26, 2007 12:12 EEST
November 26 (SeeNews) - Bulgarian printing and advertising company Billboard said it has set an indicative price of 5.5 to 7.5 levs ($4.2 to $5.7/2.8 to 3.8 euro) in its initial public offering of 1.5 million shares next week.
The IPO will start on December 5 and will run for three days, the company said in a statement.
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The offering is the latest of a series of IPOs by Bulgarian companies looking to capitalise on the fast growth of domestic capital market.
The minimum issue price of shares in Billboard’s IPO is 3.0 levs each.
The indicative range would put the company’ market capitalisation at between 41.25 million levs and 56.25 million levs.
Billboard, which claims a 40% share of the domestic wide-format printing market and some 15% of the offset printing market, will be the first advertising company listed on the Bulgarian Stock Exchange. It plans to spend the proceeds from the IPO to raise its capacity.
(1 euro = 1.95583 Bulgarian levs)
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