SOFIA (Bulgaria), May 7 (SeeNews) – Bulgarian microcredit company Credissimo said it listed 2.5 million shares on the Sofia stock exchange on Wednesday with par value of 1.0 lev ($0.711/0.511 euro) apiece.
The company debuted on the bourse in a bid to attract an experienced investor to help it implement its growth plan, Credissimo’s CEO, Konstantin Krastev, said at the bell-ringing ceremony, adding that the move does not involve a capital hike.
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The debut on the bourse is the first step towards implementing a three-year strategy which consists of five steps in the financial markets, Krastev said. The company intends to attract an investor interested in taking part in the strategy.
Credissimo will enter a new market within three months, the company’s CEO also said without disclosing details.
Krastev expects the company’s profit to grow in the future.
Credissimo posted a net profit of nearly 2.0 million levs as at the end of September last year, compared to a net profit of 1.6 million levs a year earlier. Revenues from interests grew by an annual 58% to 5.4 million levs in the third quarter of 2013. Its assets amounted to 9.4 million levs in as at the end of September, up from 6.3 million levs at the end of the previous year.
Credissimo, launched in 2007, is the first microcredit company to trade on the bourse.
No Credissimo shares changed hands on their first day of trading.
(1 euro = 1.95583 Bulgarian levs)