Nikom Trabna Mebel and Farin: We Are Considering An Issuance of Shares

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Secondary trade with the emissions of bonds of two companies starts on BSE Sofia today – these are Nikrom Trabna Mebel AD and Farin AD-Dobrich. Today is also the first day of trade with the stock of Kaolin AD.

Representatives of the companies’ management bodies opened today’s trading session with a special ceremony.

Nikrom’s Galin Stoyanov and Farin’s Daniela Stoyanova told journalists that their companies are considering a possoble floating of shares during the next few years.

Mr. Peryanov, executive director of the Lovech-based producer of furniture for homes and commercial, educational and other premises said that this first emission might be followed by a second emission of bonds and after that, as with Kaolin AD, the company may issue shares.

“Our company is 95% export oriented. Our main markets are Italy, Spain, Sweden, Denmark, France and The Netherlands,” Premyanov also added.

The company’s financial director Yulia Genova said a total of 3 mln euros or half of the emission of bonds have already been invested and the effect will be felt during the year’s third or fourth quarter. “ We registered a net profit in the amount of 3 mln euros just in the year’s first quarter which is equal to our profit for the entire 2006” Mrs Genova also added.

Daniela Pisanova from Farin said the company’s development during the next couple of years will determine whether or not another emission of bonds and an emission of shares will have to be issued.

The company’s sales revenues for 2005 are in the amount of 32 mln leva against 27 mln leva a year ago. In 2006 the company’s sales revenues reached 38 mln leva and according to prognosis data this year they will hit 45 mln leva.

Farin Ad exports about 30% of its production. The comoany’s main markets are Spain, Greece, Marocco, Algeria and others. The company’с core activity is trade with grain and oil bearing crops, fertilizers and pesticides.

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