Paysera Bulgaria to hold IPO on June 12

The raised funds will be used to prepare to Paysera Bulgaria to obtain a licence for an electronic money institution by the local regulator and meet regulatory and capital requirements, as well as to establish a mortgage-focused collective financing subsidiary and enhance basic payment services, Paysera said in a press release over the weekend.

The IPO will allow the company to provide better digital payment services in Bulgaria and Romania and expand its customer base.

Paysera Bulgaria will offer up to 163,000 ordinary shares at a price of 12.20 levs apiece, it said in a separate statement. The company's equity capital is currently divided into 766,666 shares of 1 lev in par value each, commercial register data show.

Local investment banking boutique Mane Capital is acting as investment intermediary on the deal.

In 2019, Paysera Bulgaria set up a subsidiary in Romania, in which it holds a 95% stake. In 2023, Paysera's 70,000 clients in Bulgaria and Romania made transfers worth 753.5 million euro ($817.9 million) and currency exchanges of 356 million euro, while holding funds of 38.1 million euro on the platform at the end of the year.

The Paysera group is a global online platform for digital payment services and has been a licensed electronic money institution since 2012. The group comprises a partner network in Lithuania, Latvia, Estonia, Bulgaria, Romania, Albania, Kosovo, Ukraine and Georgia.

(1 euro = 1.95583 levs)