December 18 (SeeNews) - The Sofia bourse said on Friday that it approved an extension of the subscription period for Bulgarian consultancy company Neo London Capital's initial public offering (IPO) until February 19.
The deadline was extended at the request of the issuer, the bourse said.
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The initial window for subscribing and purchasing shares from the IPO was between November 17 till December 18.
Neo London Capital offered investors 400,000 shares with a nominal value and issue price of 100 levs ($55.4/51.2 euro) each.
In November, Neo london Capital said its concept is to invest in fully permitted construction or property conversion process and to dispose of the completed residential, office or commercial units, targeting annual returns in excess of 25%.
The company's own capital stood at 50,000 levs as of March 31, according to data contained in the IPO prospectus. So far, it has been offering only consultancy services. Its revenues last year added up to 1,000 levs.
(1 euro = 1.95583 levs)