Kaolin Was Listed As a Public Company

Following a decision of the Financial Supervision Commission Kaolin AD was listed in the public companies register. In an IPO held at the beginning of April the company’s capital was increased from 20.419 mln leva to 25 mln leva.

1186 investors took part in it and the capital raised was in the amount of 61.8 mln leva.

Kaolin intends to use the funds for the refinancing of part of its debts to banks and leasing companies as well as in financing its investment program, the company’s prospectus reveals.

In Bulgaria Kaolin intends to enhance its production capacities, to concentrate on product improvement and guarantees of the quality and reliability of its products and also to cut down operating costs.

Another part of the funds raised is intended for the acquisition of companies in Southeast Europe and for implementation of greenfield projects.

Kaolin AD reported a net non-consolidated profit in the amount of 5.464 mln leva in 2007 first quarter compared with 1.302 mln leva for 2006 first quarter.

Net sales revenues in the period stand at 22.742 mln leva or 51.29% more than in 2006 first quarter. Financial revenues reached 2.863 mln leva against 390 000 leva for the preceding period.

Kaolin is the biggest producer of industrial materials in Southeast Europe. Its core activities include extraction and processing of kaolin, quarts sands, limestone, ceramic materials and others.

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