Hidroizomat Debuts At 8.5 Leva Per Share

Hidroizomat Debuts At 8.5 Leva Per Share

300,000 shares, or 23% of the capital of Hidroizomat will be offered at a closed mixed auction only a week after the issue is floated on the BSE. The shares will debut at 5 leva, according to the prospectus, but the company announced that price per share at the auction will be 8.50 leva.

On April 27 the general meeting of shareholders decided to increase capital from 59,051 leva (30,192 mln euros) to 1,299,122 leva (664,230 euros) using 1.240 mln leva (634,000 euros) from Reserves.

The company was founded in 1962 as Hidroizolacionni Materiali (Water Proofing Materials). At the moment the core activity includes production of water proofing materials, thermal insulation systems and other products for the sectors of construction, as well as repairs and transport services; purchase, construction and furnishing of properties with the aim of selling, know-how, production and trade with intellectual products, and other trade activities in the country and abroad.

Company materials were used in the construction of buildings and facilities of the following: NPP Kozloduy, Sofia Airport, Hemus Highway, Sofia Underground, TPP Maritza Iztok, Bulgartabak, Bankanpharm, Ministry Of Defense, Blagoevgrad Customs Office, Medika Sandanski, Vratiza in Vratza etc. 
Financial information *200420052006
Revenue From Core Activity161323782293
Net profit/loss-36257318
Net profit/loss per share-0,614,355,39
Total Assets252028963270
Dividend Per Share000

*in BGN
The company expects profit to grow from 442 thousand leva (225,991 euros) to 745 thousand leva (380,912 euros), while revenues are expected to rise from 2.4 mln leva (1.227 mln euros) to 4.95 mln leva (2.530 mln euros).

Revenues (in thousands BGN)246939904954
Profit (in thousands BGN)442595745

Main shareholders are Industrial Holding Doverie with 56.4%, Borisalv Nedyalkov with 20.20%, and Jeko Jekov with 9.62%.

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