Devin AD Posts 1H Revenues In The Amount Of 26 Mln Leva

Devin AD expects a consolidated pre-tax profit in the amout of 855,000 leva (437,154 euros) in 1H, according to company report.

Revenues for the period stand at 25.91 mln leva (13.247 mln euros), and profit from the company's core ativity stands at 2.105 mln leva (1.076 mln euros). Financial costs in1H stand at 1.25 mln leva (639,114 euros).

As of June 30, the company's core capital is in the amount of 14.891 mln leva (7.613 mln euros), and equity capital is at 11.46 mln leva (5.860 mln euros). Consolidated assets stand at a little over 47 mln leva (24.030 mln euros).

Total liabilities have increased to 35.6 mln leva (18.202 mln euros) since the beginning of the year, compared with 33.3 mln leva (17.026 mln euros) posted on 31 December 2006. The company has two subsidiaries - Atlatic Divine EAD and Devin Royal EAD.

On 25 July 2007 investors may submit orders for Devin's IPO to IP Elana Trading - the emission's underwriter, or to other intermediaries.

Results will be announced the very next day and payment is scheduled for July 27.

The IPO price per share is expected to be between 5 and 8 leva, the underwriter announced on its web site.

Capital increase will be registered with Sofia City Court on August 7, and with Central Depository on August 10. New shares will be registered with the Financial Supervision Commission on August 17, and a week later (24 August) with the BSE-Sofia.

Devin AD increases capital by issuing up to 3 mln new, common, paperless shares. The company's majority shareholder Devin Betailigungs Gmbh may decide to offer some 450,000 shares during the IPO.

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