Europe Line Group has applied for floating its shares on segment A of the Unofficial Market of the Bulgarian Stock Exchange (BSE), the bourse said.

The issue amounts to 50,000 leva (25,560 euros) dividend in as many shares with 1 lev par value each. The stock will be traded under the ELG stock symbol.

Europe Line Group either represents other companies or is subcontracted to implement projects in the fields of IT, health care and satellite research.

The company plans to develop projects under EU's Seventh Framework Program for research and technological development (FP7), and to provide consulting services on European projects and programs and in the field of high technologies.

The company has already signed contracts with of Greece's Aratos Technologies S.A., Ionian technologies ltd. and Zeus Consulting S.A.

Nikolaos Bogonikolos who is chairman of the board of directors of Europe Line Group, owns a 70% stake in the company. Simeon Topchiyski, executive director of the company, holds the remaining 30%.