The IPO of Specialized Business Systems ended on 24 July, announced the underwriter Capman investment intermediary.

More than 250 orders worth a total of 11 386 339 leva (5.821 742 euros) have been received . Shares were allocated as follows – 5.2% to institutional investors, 10% to legal enteties, and 84.80% to physical persons.

The company raised some 2 286 160 leva (1 168 895 euros) in the IPO. Oversubscription was 4.98 times. Commission fees and other costs amounted to 13,633 leva (6,970 euros).

Last week was announced that Specialized Business Systems AD ranked first in three procedures for public procurement assignment. The company has been chosen among 18 foreign companies to execute two orders worth 93,702 leva, assigned by the Foreign Misnistry.

SBS increased capital from 3.319 mln leva (1.697 mln euros) to 5 mln leva (2.556 mln euros) via the public offering of 33,620 shares with a face value of 50 leva and issue value of 68 leva.

The company plans to invest some 1.5 mln leva (766,937 euros) in expansion of its logistics network, and 500,000 leva (256,455 euros) in enlarging its production portfolio.

The rest of the capital will be used to acquire stakes in other companies in the IT and office equipment sphere with the aim of consolidating the market and increasing the company's maket share and competitiveness. Funds will also be allocated to the marketing and advertising departments.

SBS expects net profit of between 326,000 leva (166,681 euros) and 418,000 leva (213,720 euros), and revenues from core activity between 14.774 mln leva (7.553 mln euros) and 16.328 mln leva (8.348 mln euros) in 2007 .

For the fiscal 2006 SBS posted net profit in the amount of 184,000 leva (94,077 euros), and 12.477 mln leva (6.380 mln euros) in revenues from core activity.

The company's main activity is the import, export, distribution and maintenance of PC components and systems, delivery, installation and maintenance of computers and office technology, development of complete solutions for informational systems etc.