December 22 (SeeNews) - Bulgarian biometric identification security solutions developer Biodit said that it will carry out on January 21 an initial public offering (IPO) on the Bulgarian Stock Exchange's BEAM market.
Biodit will offer for subscription up to 1 million new ordinary shares with a nominal value and issue price of 1 lev ($0.62/0.51 euro) apiece within one trading session, the company said in a bourse filing late on Monday.
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The IPO will be considered successful if at least 250,000 shares are subscribed and paid for, Biodit said.
The company has a registered capital of 12.82 million levs, divided into the same number of shares.
The offering has attracted the interest of both institutional and private investors, Biodit CEO Julian Sofroniev said in an interview for Bloomberg TV Bulgaria last week.
Earlier this year, Biodit's shareholders endorsed the management's plan to offer 1.95 million shares at a price of 1 lev each in several tranches on the Sofia bourse.
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)