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Bulgaria's Telelink Business Services mulls IPO in Bulgaria, abroad

Author Mario Tanev
Bulgaria's Telelink Business Services mulls IPO in Bulgaria, abroad Photo: Bulgarian Stock Exchange / All rights reserved.

SOFIA (Bulgaria), June 20 (SeeNews) - Bulgaria's Telelink Business Services is considering making an initial public offering of its shares on the Bulgarian Stock Exchange and on foreign markets, majority owner Lubomir Minchev said.

"We are looking into the possibility to offer the company to institutional investors on our stock exchange, and we are also considering the possibility to offer the company on a foreign stock exchange next year," Minchev said in an interview for Bloomberg TV Bulgaria on Wednesday.

If the company is listed domestically, this does not exclude the option for foreign cross-listing and vice versa, Minchev said, adding he intends to keep a majority stake in the company for at least two years.

Telelink Business Services is expected to generate a turnover of some 70 million euro ($79.1 million) this year, Minchev said.

In 2017, Telelink reorganised its business into four new companies - Telelink Business Services, Telelink Infra Services, Telelink City Services and Telelink Labs. The four companies became part of newly established holding group Telelink Bulgaria.

($ = 0.8850 euro)

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