Bianor AD is Planning BSE Listing in Mid-2007

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Bianor AD will be the first software public company in Bulgaria. The decision to float shares on BSE has been taken at a General Meeting of Shareholders.

The company’s prospectus has been filed with the Financial Supervision Commission and is expected to be approved by the end of May.

The IPO will be held via an investment intermediary using the book-building method and will take place in the middle of 2007. A specific date will be announced after the prospectus is approved by the Financial Supervision Commission.

Bianor AD will offer 135 000 shares on the stock exchange. If the emission is successful the company’s free-float is expected to be around 20 %.

“The company’s BSE listing is an important stage in the realization of its management’s strategy for development and expansion of the business,” said Kostadin Yordanov, Bianor’s executive director.

First Financial Brokerage House EOOD will be the investment intermediary. The company’s legal consultants are Tocheva and Mandajieva.

Bianor AD was founded in 1998 under the name Areksus. During the years it specialized in the field of information technologies and development of software solutions and products mainly for clients in the US, Japan and Europe. At the moment Bianor AD controls a group of three subsidiaries, and one associated company each specialized and rapidly developing in their own field of activity.

Bianor AD controls 100 % of the capital of Bianor Services EOOD, 80 % of Nextborn Ltd, 66.67% of Nat Mag Ltd and 15 % of All Telecoms AD.

The company’s activity is concentrated in the field of IT, development of software solutions and products, web design, online trade and strategic investment.

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