Hidroizomat Is Officially A Public Company, FSC Decides Today

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The Financial Supervision commission listed Hidroizomat in the Public Companies Register at a meeting today. The FSC also approved the prospectus for the floating of an issue worth 1,299,122 leva (664,230 euros) on the regulated market of equities.

“We have plans to offer 300,000 shares (23%) of our capital at a closed mixed auction in November,” Borislav Nedyalkov, chairman of the Board of Directors said a short time ago.

The company has appointed an Extraordinary Meeting of Shareholders November 16, which is to vote amendments to the recently adopted Statute.

Hidroizomat posted 1.039 mln leva (531,232 euros) in revenues from core activity in 2007 H1, versus 653,000 leva (338,873 euros) a year ago. Pre-tax profit stands at 208,000 leva (106,348 euros), against 30,000 leva (15,338 euros) a year ago.

Hidroizomat was founded in 1962. The company offers the following services – waterproofing, installation of thermal insulation systems, repairs, transport services etc.

In the summer the company increased capital from 59,191 leva (30,263 euros) to 1,299,122 leva (664,230 euros) using own funds. Industrial Holding Doverie controls 56.045% of the capital, and Borislav Nedyalkov has 20.20%, according to APIS.

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