Investors Subscribe 2.53 Million Shares in Holding Railway Infrastructure
The subscription of shares in the capital increase of Holding Railway Infrastructure ended June 27, the holding and the underwriter United Bulgarian Bank announced.
Investors placed orders for a total of 2,528,852 shares, passing the minimum required 2.5 mln shares. The placement price settled at 5 leva/share.
The holding raised a total of 12.64 mln leva (6.46 mln euros) through the procedure.
The company offered 5,583,411 new, common, paperless, voting shares in an IPO. Shares' par value was 1 lev.
The proportion between subscribed shares in limit and market orders is approximately 9.3%. Institutional investors made 2% of placed orders.
The holding's free-float will reach nearly 4.3%. The stock will be floated somewhere in mid-August 2008.
Payment starts July 1 and its deadline is July 3.
Holding Railway Infrastructure will use the funds to finance its investment program.