Etropal AD has filed a prospectus for a secondary public offering of shares with the Financial Supervision Commission, BSE reports.

After the issue is registered for trade on the stock exchange the major shareholder Eurohold Bulgaria (

) will reduce its stake in the company by selling some of its shares, but intends to maintain its controlling position in the medium term perspective.

At a general meeting held recently, shareholders decided that 1 mln leva of 2006 undistributed profit (1 048 651.68 leva in total) will be used to finance the capital increase. The company will increase capital from 4 mln leva (2.045 mln euros) to 5 mln leva (2.556 mln euros) by issuing 1 mln paperless, registered, voting shares with a face and issue value of 1 lev.

The newly issued 1 mln shares will be allocated among shareholders in a 4:1 proportion to their interest in the capital prior to its increase.

The remaining 48 651.68 leva will be added to the Reserves.

Etropal expects 2007 consolidated revenue to top 20 mln leva (10.225 mln euros), versus 10.7 mln leva (5.470 mln euros) in 2006.

The Etropal group includes 7 subsidiaries: Etropal Trade, Dialysis Center Etropal, Dialysis Etropal Alfa, Dialysis Etropal Beta, Dialysis Etropal Delta, Dialysis Etropal Gama, Dialysis Etropal Sigma.

During the past quarter Etropal, in partnership with Italian companies, founded two new companies - IB Medika (In Bulgaria) and Fibra (in Italy).

Eurohold Bulgaria currently controls 97.31% of the company's capital.