Billboard To IPO Between December 5 And 7

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The initial public offering of the polygraph company Billboard has been scheduled to begin December 5 and end December 7, an announcement in the State Gazette informs. First Financial Brokerage House (FFBH) is underwriter of the subscription.

The price per share will be announced December 8. Investors whose orders have been placed will be informed about the number of alloted shares and the price in a notice via investment intermediaries.

Payment must be made no later than three days after the announcement of shares allotment and price.

The new issue of Billboard is in the amount of 1.5 mln leva, allocated in the same number of shares with a face value of 1 lev and issue value of 3 leva. Last month, Financial Director Vasil Genchev said  the price will be between 5 and 7 leva/share.

Billboard expects consolidated sales revenues in the amount of 25 mln leva (12.782 mln euros) in 2007 which is 47% up from a year ago, when it stood at 17 mln leva (8.691 mln euros). Net 2007 profit is projected at 2.7 mln leva (1.380 mln euros), versus a little less than 2 mln leva last year.

Billboard JSC has 6 subsidiaries: Dedrax (60% controlled), DPS Bulgaria (60%), Motion Arts (51%), InStore Media (50%), Digital Print (100%).

Shareholders are Vasil Ganchev, controlling 35% of the capital, Stefan Genchev with 25%, Kalin Genchev with 25%, ad Veneta Gencheva with 15%.

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