76% Of Etropal Shares Change Hands At Auction

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A total of 1,067,185 shares, or 76.2% of the 1.4 mln shares offered by Etropal JSC changed hands at the closed auction held on BSE today.

There were a total of 307 transactions between 7.95 and 10.50 leva, or 8,612,600 leva (4,173,471 euros) in total. This makes the average price per share 8.07 leva.

The minimum price per share had been set at 7.95 leva. Etropal's stock was floated on the BSE November 12. The issue was in the amount of 5 mln shares with a face value of 1 lev. The total value of the issue stands at 5 mln leva (2.556 mln euros). The code assigned to it is ETR.

Etropal posted Jan – Sept net sales in the amount of 9.8 mln leva (5.010 mln euros), which is 57% up compared with the same period last year.

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

In 2006 Etropal started production for three French companies – LCH, Gyneas and Laboderm. Also in 2006, a new production line was launched (of more than 70 types of medical supplies) for Covidien.

The long-term contracts the company has signed provide for sales revenues growth of up to 30% by 2009.

Eurohold Bulgaria intends to keep its majority stake in Etropal and has undertaken to 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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