The company will offer up to 5.583 mln shares, or 10% of its capital, which amounts to 55.834 mln leva (28.54 mln euros). If the share offering is successful, the capital of the company will go up to 61.4 mln leva (31.39 mln euros) and the proceeds from the share sale will total at least 27.917 mln leva (14.27 mln euros).
The allocation of the shares will be clear on June 30, while the payment will be settled in the period July 1 to 3. Trade in the stock is expected to kick off in the middle of August 2008.
Sofia-based Railroad Infrastructure – Holding Company (Railroad Infrastructure) is a holding company established in April 2007, initially as a limited liability company, dubbed Nove Industry.
The structure of the holding company and its subsidiaries was established in the end of 2007. Railway Infrastructure consolidates four companies operating in the railway transport sector.
The company forecasts 49.055 mln leva (25.08 mln euros) operating revenue and 6.96 mln leva (3.55 mln euros) profit for 2008. The earnings of the company are expected to grow to 15.757 mln leva (8.05 mln euros) in 2009, while the revenue will amount to 80.276 mln leva (41.04 mln euros) for the same year. The forecasts for 2010 are for 120.04 mln leva (61.37 mln euros) revenue and 24.792 mln leva (12.67 mln euros) profit.
Major shareholders in the company are Vassil Bozhkov with an 80-percent stake and Orlin Hadjiyankov who owns 20% of the capital. The two of them will hold 72.72 and 18.18% of the capital, respectively, after the share offering.