In 6 calendar days (on 18 April) Todorov AD’s stock will be floated on the Bulgarian Stock Exchange, the company announced today at a pressconference on the occasion of its forthcoming secondary public offering.

800,000 shares (23.5% of Todorov’s capital), currently owned by BenchMark Group, will be offered in the beginning. If the number of the submitted orders exceed the offered amount, BG Immobilien will offer another 300,000 shares.

Each investor can submit limited or market orders.The price indicated in the limited order cannot be lower than the minimum price of 1.60 leva/share.

Limited orders, which differ significantly from the average weighed price, will not be considered in the “cut-price” determination. Book building will be held within one working day - on 17 April. Each investment intermediary is entitled to submit up to 800,000 shares.

“Between 8.30 and 10.30 on 17 April each investment intermediary can submit their initial offer only once. An intermediary is allowed to submit one offer only”, Hristo Karamfilov, member of the management of BenchMark Group, said.

“Until 14.00 the same day offers will be rated by type (market and limited) and by bid price. Intermediaries will be informed about the determined price and satisfaction rate at this stage”, Karamfilov added.

“Between 14.00 and 17.00 investors will have the opportunity to sweeten their offers. Only improved offers by investment intermediaries, who have already submitted applications, will be accepted”, Hristo Karamfilov explained.

In case the price in the first bidding is satisfactory, the procedure will be considered finished and there will be no opportunity to sweeten offers.

The final results from the book-building will be announced the next day, and the shares will be transfered to investment intermediaries on the securities registration segment.

Todorov AD posted a 76.000 leva profit in 2006 compared to a profit of 215.000 leva the previous year. Net revenues reached 2.001 leva last year against 1.402 mln leva in the end of 2005.