Bulgaria's IpoTech Sofcom starts trading on Sofia bourse

"Our goal is to ensure a smooth and stable increase in market share in order to consolidate a leading position in the field of non-bank lending. [...] At the planned pace of development, we expect to double our portfolio in the next year and a half," IpoTech Sofcom CEO Irena Vacheva said in a statement.

As of 1055 CET on Wednesday, shares in IpoTech Sofcom had not traded yet, bourse data showed.

Last month, the company raised some 2.4 million levs ($1.3 million/1.2 million euro) in an IPO on the BEAM market. IpoTech Sofcom's share issue consists of 801,706 shares with a nominal value of 1 lev each.

The company will use the proceeds from the offering to expand its loan portfolio, Dr Irena Vacheva told SeeNews earlier.

Sofia-based IpoTech Sofcom, formerly Sofkom Lizing, specialises in non-bank mortgage lending.

(1 euro = 1.95583 levs)