Opportunity Bulgaria Investment gets nod for bond IPO

The company will issue up to 8,000 unsecured, freely transferable, convertible bonds with a nominal value of 1,000 levs each, equal to their issue price, the FSC said in a decision published on Tuesday.

The issue will have a maturity of five years and will carry a fixed annual coupon of 5%, with payments due semi-annually.

The FSC entered the bonds subject to an IPO into its register of public companies and other issuers of securities, it said.

The proceeds from the offering will go towards bolstering investments and generating current income while mitigating risk by diversifying the company's portfolio of financial instruments, Opportunity Bulgaria Investment said earlier.

Shares in the company last traded on Monday when they closed at 1.70 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)