January 21 (SeeNews) - The Bulgarian Stock Exchange said on Thursday that the initial public offering (IPO) of local biometric identification security solutions developer Biodit was oversubscribed 2.6 times.
Biodit offered for subscription 1 million shares at a price of 1 lev ($0.62/0.51 euro) apiece, the stock exchange operator said in a statement.
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This is the first IPO on the BSE's BEAM market.
The Sofia bourse's SME growth market BEAM was created with the purpose of allowing small and medium-sized enterprises to seek listing under simplified procedures as compared to the regulated market.
(1 euro = 1.95583 levs)