This week: Todorov and Kaolin in the Spot
The IPOs of Todorov AD and Kaolin AD will be in the spot of investors’ attention this week.
Anyone willing to take part in the secondary public offering of Todorov AD can do this today in the offices of the licensed investment intermidiaries in Bulgaria.
Initially 800,000 shares or 23.5% of the company’s capital, owned by BenchMark Group will be offered. If the submitted orders exceed the offered amount, BG Immobilien will offer another 300,000 shares.
Kaolin’s IPO starts on 18 April 2007. Subscription applications can be submitted no later than 17:00 PM on 20 April 2007 directly or through any licensed investment intermediary in Bulbank AD.
The purchased shares must be paid between 23 and 25 April 2007. Floatation is expected either on or around 28 May 2007.
Two auctions for the unsubscribed rights from the capital increases of Invest Property REIT and Agro Finance REIT will take place on BSE-Sofia this week.
Tomorrow (17 April) 134,061 rights of Agro Finance will be offered. Each right allows the subscription of 55 of the trust’s new shares at a nominal price of 1.00 leva and issue price of 1.10 lev/each.
Agro Finance REIT plans to increase its capital from 650,000 leva to 36.4 mln leva. The accumulated 39.325 mln leva will be used to buy agricultural land and to repay two bank credit lines.
On 18 April (Wednesday) 523,075 unsubscribed rights of Invest Property REIT will be offered. Each of the purchased rights allows the subscription of 8 of the trust’s new shares at a nominal and issue price of 1.00 lev/each.
Also Wednseday the general meeting of the shareholders of Bulgarian American Credit Bank will be held. The shareholders are expected to vote a proposal to pay a gross dividend of 0.75 leva/share.
The rights of Media Systems AD will start trading on 18 April (Wednesday). The company’s capital amounts to 2 mln leva, which is the number of the issued rights. 1.5 mln shares with a nominal and issue value of 1 lev are offered for subscription. The ratio between the issued rights and the new shares is 1/0.75.