Billboard is planning to offer 1.5 mln new shares in an IPO. Capital, held by shareholders, will thus be increased to 7.5 mln leva (3.835 mln euros). This will not be the only offering the company will hold, Rumen Radev said at a conference today.

The IPO will be held in September and trade with the shares will start in October. The IPO method is not clear yet, it is expected that price limits will not be set.

Billboard is expecting consolidated sales revenues to grow 47% to 25 mln leva (12.782 mln euros), compared with 17 mln leva (8.692 mln euros) in 2006. Net profit is estimated to reach 2.7 mln leva (1.380 mln euros), compared with 2 mln leva (1.022 mln euros) a year ago.

The company holds 40% of the wide format printing market in the country, and 15% of offset printing market, says trade director Kalin Genchev. Billboard has more than 3000 clients and employs more than 300 people.

The company is currently constructing a new building on an area of 28,000 sq m near Sofia, with a total built-up area of 17 sq m, comprising an administartive area, warehouse, printing halls, workshops, car parks etc.

Billboard AD operates in the field of wide format digital printing and advertising materials. The company has four subsidiaries.

Dedrax Ltd, situated in the building of the National Palace of Culture (NDK), is responsible for offset printing. The company produces materials such as calendars, magazines, brochures, flyers, catalogs, posters etc.

The core activity of DPS Ltd is in the IT sector and digital printing solutions.

In 2001, the third subsidiary Motion Ltd, won a contest for placement of billboards inside the carriages of Sofia underground, which started the development of an advertising network in the underground stations under the label Metroreklama.

The fourth subsidiary Nimisoft Ltd was founded in 2006 and is currently developing projects for leading Bulgarian advertising agencies.

After the conference, the company's management showed journalists and investors around its factory, situated on an area of 11 000 square meters on the sub-level of the building of NDK.