You have 5 free articles left this month. Get your free Basic subscription now and gain instant access to more.

Bulgaria's Infinity Capital raises 715,800 euro in Sofia IPO

Bulgaria's Infinity Capital raises 715,800 euro in Sofia IPO Author: Bulgarian Stock Exchange / All rights reserved.

SOFIA (Bulgaria), October 19 (SeeNews) - Bulgarian real estate investment company Infinity Capital raised close to 1.36 million levs ($833,600/715,800 euro) in an initial public offering (IPO) on the Sofia bourse's BEAM growth market on October 18, it said on Tuesday.

Investors subscribed and paid for a total of 847,198 company shares with a nominal value of 1 lev and an issue price of 1.60 levs each, Infinity Capital said in a bourse filing.

As a result of the IPO, the company's capital will rise to over 1.4 million levs, divided into 1,454,883 shares of 1 lev in par value each.

According to commercial register data, the capital of the real estate investment company currently amounts to 607,685 levs divided into the same number of shares.

Earlier this month, Infinity Capital said it will aim to raise up to 5.8 million levs from investors through an IPO on the BEAM market on October 18 and October 19 by offering up to 3,625,000 new shares with a nominal value of 1 lev and an issue price of 1.60 levs apiece. Infinity Capital also said back then that the IPO will be considered successful if at least 612,500 shares are subscribed and paid for.

In a statement published on the website of the Bulgarian Stock Exchange (BSE) on Monday, Infinity Capital said that it would not offer any more shares for subscription on October 19.

Infinity Capital, set up in December 2019, is majority-owned by local GD Capital Management AD, property of private individual Georgi Dimitrov, according to the commercial register.

The BSE'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)

Compare