1.4 Mln Shares Of Etropal To Be Offered At An Auction on Monday, Minimum Bid 7.95 Leva

1.4 Mln Shares Of Etropal To Be Offered At An Auction on Monday, Minimum Bid 7.95 Leva

Eurohold Bulgaria will offer 1,400,000 shares (28% of the capital) of Etropal Bulgaria at a closed auction on BSE on Monday, November 19.

The minimum price per share has been set at 7.95 leva. As we already informed, on Monday, Etropal registers its shares for trade on BSE.

The issue's value stands at 5 mln leva (2.556 mln euros) allocated in 5 mln shares with a face value of 1lev. The bourse code assigned to it will be ETR.

Etropal JSC Etropole posted Jan – Sept net sales revenues in the amount of 9.8 mln leva (5.010 mln euors), which is 57% up from a year ago.

In the past three years Etropal JSC boosted its export from 17% of production in 2004 to 45% this year.

In 2006 the company started production for three French firms – LCH, Gyneas, and Laboderm. In the same year a new line of production (of more than 70 types of medical supplies) was launched for Covidien.

The company has long-term contracts for production and delivery, which may boost 2007 revenues to 30 mln leva (15.338 mln euros) in 2009.

Eurohold Bulgaria intends to keep its majority stake in the company and has undertaken to the engagement not to sell shares for a lock-up period of 12 months.

Etropal is a leading manufacturer of single-use medical supplies.

The structure of Etropal includes 7 subsidiaries: Etropal Trade, Dialysis Center Etropal, Dialysis Etropla Alfa, Dialysis Etropla Beta, Dialysis Etropal Delta, Dialysis Etropal Gama, Dialysis Etropal Sigma.

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