Stock Plus Price Per Share Set At 1 Lev

Stock Plus Price Per Share Set At 1 Lev

The issue value of shares of Stock Plus Jsc will be equal to their face value – 1 lev, according to the prospectus summary okayed by the Financial Supervision Commission yesterday. “We intend to list the company on the BSE, and then to increase capital by 20%,” the chairman of the Board of Directors and shareholder of 33.33% of the capital told a short time ago.

The issue is worth 4,809,450 leva (2,459,032 euros), allocated in as many shares, it emerged yesterday.

Shares will be listed on BSE's Unofficial Market of Equities, the company's aim is to make the stock accessible to a large circle of investors. The documentation provided by Stock Plus also states that the company aims at introducing itself to the investing community in Bulgaria and defining the stock trading price of shares.

Stock Plus was founded in 2005 and its core activity is sales and purchase of real estate, all activities related to changing the statute of land plots, construction, renting and property management.

The company has not reported revenues so far, since it is still at an early stage of development.
More information on the land properties acquired in 2007 is given in the table below:

TerrainsArea (decares)Acquisition Price (thousand BGN)
Filed in Elin Pelin Municipality49,542
Filed in Elin Pelin Municipality49,582
Field in Gorna Malina Municiplaity198,4761
Field In the area of Koprivshtica33,325
Field in Municipality of Veliko Tranovo100,55451897
Land plot in Suhindol Municipality147,49177976
Land plot in Suhindol Municipality190,39229754
Land plot in Suhindol Municipality33,4940413
Land plot in Veliko Tarnovo Municiplaity61,54738408
Land plot in Veliko Tarnovo Municiplaity136,01998812
Land plot in Suhindol Municipality398,84481290
Land plot in Veliko Tarnovo Municipality88,8686234
Land plot in Veliko Tarnovo Municipality123,85837826
Land plot in Suhindol Municipality71,1485840

Stock Plus expects 2008 net sales to top 9 mln leva (4.601 mln euros), and to reach 20.209 mln leva (10.332 mln euros) by 2009. Costs on activity are projected at 2.797 mln leva (1.430 mln euros) next year, and 7.088 mln leva (3.624 mln euros) in 2009. Profit is seen at 4.886 mln leva (2.498 mln euros) next year, and at 11.868 mln leva (6.968 mln euros) in two years' time.

The company is the founder and a shareholder in Inovo Status, which was listed in the Macedonian Commercial register on August 21 2007. Stock Plus controls 6.500 shares with a face value of 1 euros (1.95583 leva), or 5% of the company, according to information from the papers filed with BSE.

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