11 Times Oversubscription of Devin Shares At 6.10 Leva

There was an 11 times oversubscription of shares in the IPO of Devin AD which was held 25 July 2007 with underwriter Elana Trading. Subscriptions were at 6.10 leva per share.
A total of 3 225 000 shares were allocated, and the majority shareholder also offered half of its 450,000 shares.
The IPO was held under the book-building method. Between 9.00h and 16.00h on 25 July investors submitted both market and limit ortders.
The underwriter Elana Trading received orders worth a total of 235 mln leva (120.153 mln euros). Payment starts Friday, 27 July.
The funds raised by the company are estimated at about 18 300 000 leva (9.356 mln euros).
Nearly 50% of shares were subscribed by foreign investors, both physical persons and legal enteties.
It is expected that Devin's shares will be floated on the BSE on or around 24 August.