Investors will be able to submit orders in the initial public offering of shares of Shumen-based Herti Jsc on 25 January 2008.

Allotment of shares (which will be determined via book-building) will be announced January 28, and payment must be done within 5 business days. Raiffeissen Bank Bulgaria is underwriter of the issue.

The Financial Supervision Commission approved the IPO prospectus at its meeting held December 12.

The company will offer 3 mln new shares and up to 1.4 mln existing shares with a face value of 1 lev and a minimum issue value of 3.10 leva. Herti may raise capital by up to 15 mln leva in case of a successful subscription.

Herti is a manufacturer of aluminum bottle caps. The company recently established subsidiaries in France and England.

H1 sales revenues rose by more than 30% this year to 13 mln leva (6.646 mln euros), versus 9.68 mln leva (4.950 mln euros) for the respective period last year.

In 2006 Herti posted sales revenue in the amount of 23.638 mln leva (12.085 mln euros), against 22.217 mln leva (11.360 mln euros) in 2005.

Alexander Yulianov controls 33% of the capital, Zahari Zahariev holds 25%, Elena Zaharieva has 8%, and Austrian Export-Import Gmbh has 34%.