United Bulgarian Bank received orders for subscription of shares in the IPO of Agria Group Holding on November 29 and 30. Oversubscription was 1.5 times, the bank said.

The price per share was 9.04 leva/share, the price ranged had been set at between 9 and 13 leva. The underwriter and the issuer set this price with the aim of ensuring active secondary trade. Agria Group raised some 15.368 mln leva (7.857 mln euros) in the IPO.

The holding offered 1.7 mln new, common, paperless, voting shares with a face value of 1 lev. The number of fulfilled limit and market orders is almost equal. Institutional investors prevail.

The company’s free-float reaches 25% after the IPO. Shares are expected to debut on BSE in January 2008.

Payment starts December 5 and the deadline is December 7.

Agria Group Holding will use the IPO proceeds to finance the 2007 – 2012 investment program. The capital will increase the liquidity of subsidiaries and will provide opportunities for expansion of their activity.