November 22 (SeeNews) - Bulgarian IoT products developer Allterco [BUL:A4L] said it started trading on the Prime Standard market segment of the regulated market of the Frankfurt Stock Exchange on Monday.
"The starting price of the shares of the company was set at 14.50 euro ($16.36). Based on the current market price Alterco's capitalisation is approximately 261 million euro," the company said in a statement.
Earlier this year, Allterco said that it intends to list a total of 17,999,999 ordinary shares with a nominal value of 1 lev each, representing 100% of its capital, on the Frankfurt bourse.
Allterco expects to book revenues of 27.8 million euro for 2021 and 41.8 million euro for 2022, the company also said in the statement.
Allterco's shares have been trading the regulated market of the Bulgarian Stock Exchange (BSE) since 2016.
As at 11:00 CET, Allterco's shares traded on the BSE at 28.60 levs ($16.50/14.62 euro), 11.72% up from their latest close.
($ = 0.8861 euro)