June 5 (SeeNews) - Bulgarian IoT products developer Allterco [BUL:A4L] said that it has submitted for approval by the financial regulator a revised capital increase prospectus, which envisages the opening of the offering to investors from Italy and Germany.
In addition, the updated prospectus contains information about Allterco's financial performance in the first quarter of 2020, which was published after the regulator approved its original prospectus, the company said in a bourse filing on Thursday.
Allterco also said on Thursday that its consolidated net profit, excluding minority interest, more than doubled to 1.5 million levs ($862,000/767,000 euro) in the first quarter of 2020 from 615,000 levs in the same period of 2019, despite a 24.2% decrease in revenue.
Earlier this year, the Financial Supervision Commission approved Allterco's prospectus for a capital increase via the issuance of 3 million shares at a price of 3 levs each.
As at 10:00 CET on Friday, Allterco shares traded 1.53% higher at 3.98 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)