December 15 (SeeNews) - The initial public offering (IPO) of shares of investment company HR Capital was oversubscribed almost 11 times, the Bulgarian Stock Exchange (BSE) said on Wednesday.
The company raised nearly 1.5 million levs ($864,000/766,900 euro) in the IPO held on the BSE's small and medium-sized enterprise (SME) growth market BEAM, the bourse said in a statement.
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Due to the high investor interest, HR Capital will offer additional shares worth about 1 million levs on December 17.
Last week, HR Capital said it will offer for subscription up to 330,000 shares of 1 lev in par value each at an issue price of 4.48 lev apiece on December 15. The IPO will be considered successful if at least 223,215 shares are subscribed and fully paid for, the company said back then.
HR Capital also said at the time that If the IPO is oversubscribed at least 1.5 times, the shareholder Web Finance will offer up to 220,000 existing shares at a price of 4.48 levs apiece on December 17.
HR Capital is an investment company focused on marketplace and commerce digital business.
The Sofia bourse's Bulgarian Enterprise Accelerator Market (BEAM) market was created with the purpose of allowing small and medium-sized enterprises (SMEs) to seek listing under simplified procedures as compared to the regulated market.
(1 euro = 1.95583 levs)