SOFIA (Bulgaria), July 5 (SeeNews) – Bulgarian real estate investment company Infinity Capital expects to conduct an initial public offering (IPO) on the BEAM market of the Bulgarian stock exchange in mid-July, said the IPO lead manager.
Infinity Capital aims to attract up to 5.8 million lev (3.5 million US dollars / 3.0 million euros) from investors by holding up to 3.625 million shares with a face value of 1 lev and an issue price of each 1.60 lev, Elana Trading said last week in a statement.
The IPO is considered successful if at least 612,500 shares have been subscribed and paid for.
The proceeds from the IPO will be used to develop the Infinity Capital project for the Aristocrat Hills residential complex near Sofia. The project envisages the construction of 13 luxury houses.
In November 2020, Infinity Capital CEO Georgi Dimitrov said the company plans to launch a € 1 million ($ 1.2 million) initial public offering in the BEAM market within the next three months.
Infinity Capital, based in Sofia, was founded in December 2019 and has registered capital of 607,685 lev, divided into an equal number of shares with a nominal value of 1 lev each. According to the commercial register data, the company belongs to the private person Stoyan Dimitrov.
The SME growth market BEAM of the Sofia Stock Exchange was created with the aim of giving small and medium-sized companies the opportunity to list themselves using a simplified procedure compared to the regulated market.
(1 euro = 1,95583 lev)