SOFIA (Bulgaria), October 14 (SeeNews) – Based on the number of subscription orders placed, Bulgarian agriculture land leasing company Elana Agrocredit expects that its initial public offering (IPO) will be successful, it said on Monday.
Subscription for the company's shares closed on October 10.
You can subscribe to our M&A newsletter here
The total amount of shares that have been subscribed for will be announced after October 17, once they have been paid, Elana Agrocredit told SeeNews in an email.
Elana Agrocredit launched an IPO on September 11, aiming to raise at least 2.0 million levs ($1.4 million/1.0 million euro) to finance its core business. The company offered investors 15 million new ordinary registered shares with a par value and issue price of 1.0 levs each.
The shares will start trading on the Bulgaria Stock Exchange at the end of November.
(1 euro= 1.95583 Bulgarian levs)