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Dec 12, 2007 18:53 EEST
December 12 (SeeNews) - Bulgarian manufacturer of aluminium screw caps for spirit drinks Herti on Wednesday received the green light to launch an initial public offering (IPO) aimed at raising at least 9.3 million levs ($7.0 million/4.8 million euro).
The company will offer for subscription 3.0 million new shares with a face value of one lev each at a minimum issue price of 3.1 levs per share on the stock exchange in Sofia, Bulgaria's Financial Supervision Commission (FSC) said in a statement.
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Herti’s share capital now stands at 12 million levs, divided into the same number of shares.
Herti, based in the southeastern Bulgarian city of Shumen, is the largest Bulgarian manufacturer of aluminium caps for spirits and plastic caps for bottled water, with a capacity of one billion units per year.
A rising number of local firms find listing on the stock exchange in Sofia attractive. The bourse has become very popular among domestic and foreign investors in the past year, following the country’s accession to the European Union in January.
(1 euro = 1.95583 Bulgarian levs)
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