BSE Trade With Shares of Kaolin AD Starts May 21

Trade with the shares of Kaolin AD starts May 21, the company’s Board of Directors decided today, BSE-Sofia reported.

The emission is in the amount of 25 mln. leva allocated in the same amount of shares with a face value of 1 lev each. The code assigned to it is KAO.

Kaolin AD raised a total of 61.838 mln leva in the IPO which finished end of April. The issue value determined through the book-building method was set at 13.50 leva and a total of 4.58 mln shares were subscribed and paid for.

1186 persons took part in the subscription and the total cost of the IPO was 2.502 mln leva. Alfa Holding AD is the main shareholder in the company.

The company intends to use the raised funds to refinance its debts to banks and leasing companies and to finance its investment program, the company’s prospectus reveals.

Kaolin is the biggest producer of industrial materials in South East Europe. Its core activities include extraction and processing of kaolin, quartz sands, clay, limestone, ceramics and others.

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