December 15 (SeeNews) - Bulgarian honey-based products maker Mellifera raised 1.06 million levs ($579,780/541,969 euro) in its initial public offering (IPO) on the BEAM growth market of the Bulgarian Stock Exchange (BSE), the bourse operator said on Thursday.
The IPO is therefore successful, the BSE operator said in a statement.
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"Companies making healthy organic products and superfoods have already attracted the attention of Bulgarian investors. The investors' support for Mellifera's potential is a clear indication of this trend," Manyu Moravenov, executive director of the BSE, commented in the statement.
Mellifera, however, could not reach the maximum amount of 2.01 million levs it targeted. In the IPO, the company offered up to 456,500 shares at a price of 4.40 levs each.
According to an earlier statement, Mellifera plans to expand its manufacturing operations and launch new products in 2023. “Our ambition is to continue growing, and the listing of BEAM is the shortcut to accelerated development,” founder Biljana Lowndes-Nikolova noted at the time.
Mellifera is offering honey-based products to provide natural energy boost mainly to people active in sports. In addition to honey, Mellifera uses additional natural ingredients such as guarana, matcha tea and others. The firm is already marketing a number of products, including MelliGEL, MelliTONIC and others.
(1 euro = 1.95583 levs)