July 7 (SeeNews) - Bulgarian beehive-monitoring cloud-based technology developer Bee Smart Technologies said it launched its initial public offering (IPO), with July 14 set as the date for investors to subscribe for shares in the company on the stock exchange in Sofia.
The offering will be open until July 19, the company said in a bourse filing on Wednesday.
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The IPO will be considered successful if no less than 29,090 shares are subscribed, the company added.
Bee Smart Technologies announced last week it will seek to place up to 43,636 ordinary, registered and freely transferable shares of 1 lev in par value each priced at 27.50 levs apiece, putting the amount of the offering at about 1.2 million levs ($625,420/613,550 euro).
Founded in 2015, Bee Smart Technologies has developed cloud-based products and tools for remote data monitoring of beehives.
(1 euro = 1.95583 levs)