June 7 (SeeNews) - Bulgarian financial leasing company IpoTech Sofcom applied for an initial public offering (IPO) on the BEAM growth market of the Bulgarian Stock Exchange, seeking to raise up to 3 million levs ($1.6 million/1.5 million euro), the bourse said on Wednesday.
IpoTech Sofcom plans to offer up to 1 million preferred voting shares at an issue price of 3 levs apiece, the BSE said in a statement.
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Bulgarian asset manager Ug Market will act as advisor on the deal.
IpoTech Sofcom is a wholly-owned subsidiary of local pawnshop chain operator Sofia Commerce-Pawn Brokerage [BUL:SCOM]. In April, the company changed its name from Sofkom Lizing and increased its capital to 1.23 million levs from 1 million levs.
(1 euro = 1.95583 levs)