The initial public offering of „Darvoobrabotvane BT“ is to take place in December 2007, the company's executive director Atanas Vasilev told profit.bg.

„First Financial Brokerage House is preparing the prospectus at the moment, and we expect it to be ready next month when it will be filed with the Financial Supervision Commission," Vasilev added.

Recently shareholders approved a proposal for capital increase from 828 000 leva to 3.4 mln leva using reserves.

Darvoobrabotvane-BT posted profit in the amount of 617 000 leva and 351 000 leva in 2005 and 2006 respectively.

The company also posted pre-tax profit in the amount of 528 000 leva in H1, compared with 425 000 leva a year ago.

Darvoobrabotvane expects 2007 revenues to come to 13 mln leva, 18.47 mln leva in 2008 and 21.85 leva in 2009. This year’s profit is estimated at 1.565 mln leva, and it is projected to reach 2.451 mln leva in 2008 and 3.161 mln leva in 2009.

98% of the company’s capital is controlled by Atanas Vasilev and Alexei Kanchev, and the rest is held by around 900 persons, most of which company employees.