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Bulgaria's Infinity Capital to seek up to 2.97 mln euro in Sofia IPO

Author Vasil Kolchev
Bulgaria's Infinity Capital to seek up to 2.97 mln euro in Sofia IPO Photo: Bulgarian Stock Exchange / All rights reserved.

SOFIA (Bulgaria), October 7 (SeeNews) - Bulgarian real estate investment company Infinity Capital will seek to raise up to 5.8 million levs ($3.44 million/2.97 million euro) from investors through an initial public offering (IPO) of shares on the BEAM growth market of the Bulgarian Stock Exchange on October 18 and October 19, the company said.

Infinity Capital will offer up to 3,625,000 new shares with a nominal value of 1 lev and an issue price of 1.60 levs apiece, it said in a bourse filing on Wednesday.

The IPO will be considered successful if at least 612,500 shares are subscribed and paid for. In case the entire offering is subscribed, the number of Infinity Capital's shares will increase to 4,232,685, all of which will be admitted for trading on the BEAM market, the company said.

Sofia-based Infinity Capital decided to increase its capital through an IPO on May 31.

The investment company, set up in December 2019, has a registered capital of 607,685 levs, divided into the same number of shares with a face value of 1 lev each. Its majority owner is GD Capital Management AD, property of private individual Georgi Dimitrov, according to Bulgarian commercial register.

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)