Orders For Specialized Business Systems IPO To Be Accepted From 11 July

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Orders For Specialized Business Systems IPO To Be Accepted From 11 July

Orders for the IPO of Specialized Business Systems may be submitted between July 11 and July 24, Chavdar Todorov, member of the Board of Directors, told profit.bg.

The investment intermediary is Capman AD.

Capman group said IPO results will be announced between 24 July and 27 July, and payments must be made no later than August 3.

Investors who submit orders must have the respective amount of money at their disposal or present bank warranty.

Specialized Business Systems has a core capital in the amount of 3.319 mln leva (1.697 mln euros), allocated in 66380 shares with a face value of 50 leva. The company is planning an IPO and a capital increase to up to 5 mln leva by offering 33 620 shares with a face value of 50 leva and issue value of 68.00 leva.

The company expects to raise 2.272 mln leva (1.161 mln euros) in the IPO if all shares are subscribed. SBS plans to invest 1.5 mln leva (766,937 euros) in expansion of its logistics network and 500,000 leva (255,645 euros) in enlarging the production portfolio.

The rest of the money will be used to acquire stakes in other companies in the IT and office technology spheres, with the aim of increasing the company's market share and enhancing competitiveness. Some of the money will also be spent on marketing and advertising.

Specialized Business Systems expects net profit between 326,000 leva and 418,000 leva this year, and revenues from core actvity between 14.774 mln leva and 16.328 mln leva.

For 2008 the company expects net profit to be between 516,000 and 700,000 leva, and revenues between 16.889 mln leva and 18.926 mln leva.

Specialized Business Systems posted net profit in the amount of 184,000 leva (94,077 euros) in 2006 and revenues from core activity at 12.477 mln leva (6.379 mln euros). The company's assets stand at 5.42 mln leva (2.771 mln euros), as of 31 December 2006. According to realistic prognosis assets will reach 8.635 mln leva (4.415 mln euros) and 9.497 mln leva (4.855 mln euros) in 2007 and 2008, respectively.

SBS-Specialized Business Systems Ltd controls 37.99% of the company's capital, while Kiril Jeliazkov and Antoaneta Jeliazkova have 31.08 and 16.83 %, respectively, and Borislav Bratanov has 7.58%.

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