Varna-based Nortek JSC is planning an IPO, today's issue of the State Gazette announces.

The general meeting of shareholders appointed 8 January 2008 will vote the proposal for the company's listing as a public enterprise with the registers of the Financial Supervision Commission.

Shareholders will also vote a proposal for the acquisition of 196,000 shares (100% of the capital) with a face value of 10 leva from the capital of Novo EAD; acquisition of 50 shares with a face value of 100 leva from the capital of Silver Line-Varna; as well as a decision to increase capital via issue of new shares worth a total of 783,000 leva after contribution into capital by shareholders of Experian-Varna.

Noretk's capital currently stands at 10 mln leva (5.112 mln euros) allocated in 1 mln shares with a face value of 10 leva.

Main shareholders are Experian and Intelsoft, controlling 69.30% and 30.70% of the capital, respectively.