SOFIA (Bulgaria), July 5 (SeeNews) - Bulgarian real estate investment company Infinity Capital expects to carry out an initial public offering (IPO) on the Bulgarian Stock Exchange's BEAM market in the middle of July, the IPO lead manager said.
Infinity Capital aims to attract up to 5.8 million levs ($3.5 million/3.0 million euro) from investors by offering up to 3.625 million shares with a nominal value of 1 lev and an issue price of 1.60 levs each, Elana Trading said in a statement last week.
The IPO will be considered successful if at least 612,500 shares are subscribed and paid for.
The proceeds from the IPO will be used for the development of Infinity Capital's project for the Aristocrat Hills residential complex near Sofia. The project envisages the construction of 13 luxury houses.
In November 2020, Infinity Capital's CEO Georgi Dimitrov said that the company is planning to launch a 1 million euro ($1.2 million) IPO on the BEAM market within the next three months.
Sofia-based Infinity Capital, set up in December 2019, has a registered capital of 607,685 levs, divided into the same number of shares with a par value of 1 lev each. The company is owned by private individual Stoyan Dimitrov, according to commercial register data.
The Sofia bourse'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)