The board of directors of BG Agro Jsc has decided to postpone the secondary public offering of shares, which was scheduled to take place in mid-February, because of the current unfavorable situation on the financial markets in Bulgaria and worldwide. The company was to SPO 10.089 mln shares and to float a total of 40.357 mln shares for trade on BSE.

The board of directors has coordinated the decision with underwriter UniCredit Bulbank, it is also in compliance with the company's prospectus approved by the Financial Supervision Commission.

According to the prospectus, the SPO may be delayed to a date no later than 31 December 2008. The company intends to start the procedures as soon as the capital market rebounds and investors' interest in equities revives.

BG Agro's core activity is agriculture, trade with grains, pesticides and fertilizers, storage and processing of agricultural production.

The company has seven subsidiaries. The Board of directors includes Nenko Nenev – chair, Daniel Nenkov – executive director, Zlatina Chotukova – member. Main shareholder is Nenko Nenkov, controlling 79.89% of the capital.

In an interview for Profit.bg said the group's net sales revenues for 2007 are expected to come to 49.5 mln leva (25.308 mln euros), and profit is seen at 3.8 mln leva (1.94 mln euros).

In 2006 consolidated revenues reached 33.3 mln leva (17.026 mln euros) and profit stood at 1.2 mln leva. In 2005 sales revenues totaled 35.9 mln leva (18.355 mln euros) and profit was at 2.1 mln leva (1.07 mln euros).