Investors submitted orders worth 174,414,522 leva (89,176,729 euros). Oversubscription at the maximum price of 7.50 leva is 12.92 times, and at the determined 7.30 leva - 13.91 times. More than 1,000 individual and institutional investors have filed orders.
This means that the company, which increased capital from 6 to 7.5 mln leva (3.834 mln euros) has accumulated nearly 11 mln leva (5.624 mln euros) from the IPO.
First Financial Brokerage House will inform all individual and institutional investors of the shares allotment by the end of the business day. Payment must be done no later than 13 December 2007.
Billboard projects 2007 consolidated revenues to rise 47% to 25 mln leva (12.782 mln euros), versus 17 mln leva (8.691 mln euros) last year. Profit is estimated at 2.7 mln leva (1.380 mln euros), against 2 mln leva (1.022 mln euros) last year.
Billbard Jsc has 6 subsidiaries: Dedrax (60% controlled), Motion Arts (51%), Nimi Soft (51%), InStore Media (50%), and Digital Print (100%).
Shareholders are Vasil Ganchev controlling 35% of the capital, Stefan Ganchev (25%), and Veneta Gancheva (15%).