December 20 (SeeNews) - Bulgarian investment company HR Capital said on Monday that on December 17 investors subscribed and paid for additional 220,000 shares from the company's initial public offering (IPO) on the Bulgarian Stock Exchange (BSE).
The additional shares were offered by Web Finance, a shareholder in HR Capital, on the BSE's small and medium-sized enterprise (SME) growth market BEAM, the investment company said in a bourse filing.
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On December 15, the IPO was oversubscribed almost 11 times, as the company raised nearly 1.5 million levs ($866,600/766,900 euro). Due to the high investor interest, HR Capital said it will offer additional shares worth about 1 million levs on December 17.
Earlier this month, HR Capital said it will offer for subscription up to 330,000 shares of 1 lev in par value each at an issue price of 4.48 lev apiece on December 15. The IPO will be considered successful if at least 223,215 shares are subscribed and fully paid for, the company said back then. HR Capital also said at the time that If the IPO is oversubscribed at least 1.5 times, Web Finance will offer up to 220,000 existing shares at a price of 4.48 levs apiece on December 17.
HR Capital is an investment company focused on marketplace and commerce digital business.
As at 15:40 CET on Monday, shares in HR Capital traded flat at 6.05 levs on the floor of the BSE.
(1 euro = 1.95583 levs)