The company will offer 135,000 shares with a minimum emission value of 10 leva issued in the company's capital increase from 540,000 leva to 675,000 leva.
The price for the realization of orders and the allocation of shares will be defined through book-building, i.e. based on investors orders.
Bianor is expecting to raise 1.331 mln leva in net revenues from the IPO.
The company's core activity is the development of software solutions for clients and software clients. Bianor AD generated over 90% of its revenues in the past three years from software development, mainly for foreign clients.
The company's total revenues for 2006 stand at 2.534 mln leva according to audited report, compared with 1.837 mln leva for 2005 and 1.1 mln leva for 2004.
Net profit stands at 326,000 leva or 0.26 leva per share, while in 2005 it was at 297,000 leva or 0.55 leva per share and in 2004 – 89,000 leva or 0.16 leva per share.
The company expects 3.565 mln leva revenues from its core activities this year, 5.72 mln leva next year and 7.466 mln leva in 2009. Net profit is estimated at 276,000 leva this year, 218,000 leva next year and 815,000 in 2009.
Nikolay Rashev and Kostadin Yordanov control 41.77% of the company's capital and Siya Yordanova and Stefan Lilov own 7.52% and 4.88 % respectively.