November 19 (SeeNews) - Bulgarian poultry producer Gradus [BUL:GR6] said that its unit Gradus-98 will distribute a gross dividend of 2.5 million levs ($1.5 million/1.3 million euro) for 2017, after its shareholders approved the proposal on November 15.
As a majority owner of the company, Gradus will receive 2,498,350 levs out of the total, the poultry producer said in a bourse filing on Friday.
In September, Gradus said it expects to receive a total of 27.2 million levs dividends distributed by its subsidiaries.
In June, Gradus raised 81.4 million levs in a two-day initial public offering (IPO) on the Sofia bourse. Investors subscribed for 45.2 million Gradus shares, or 81% of the total number of offered shares, at a price of 1.8 levs apiece, making it the biggest IPO on the Bulgarian Stock Exchange since 2007.
As at 8:45 CET on Monday, Gradus shares traded flat at 1.7 levs on the BSE.
(1 euro = 1.95583 levs)