The subscription period may be extended once, if the Board of Directors decide to do so, for a period of up to 60 days, which will be immediately announced by the FSC.
All local and foreign investors, individual or institutional investors may take part in the IPO under equal conditions.
Those willing to subscribe shares must apply at Somoni International Brokerage, or another investment intermediary on October 26 – the only subscription day.
In case of an oversubscription of more than 3 times, the majority shareholder may (but will not necessarily) decide to offer up to 40,000 (2%) of the already existing shares it owns to a selected group of investors.
These deals have to be negotiated by major shareholder and a selected circle of investors no later than three days before the date of the shares' BSE floating.
Trace Group Hold will generate at least 22.003 mln leva (11.249 mln euros) in case of a successful IPO. The company will use 14 mln leva on new equipment and facilities. 3.5 mln leva will be spent on modernization.
The rest will be invested in increasing the holding's stakes in controlled enterprises, and in acquisition of other companies.
Trace Group Hold expects 124.956 mln leva (63.888 mln euros) in revenues from core activity this year, and profit is projected at 8.122 mln leva (4.152 mln euros) after taxes. According to the company's prospectus, 2008 revenues will amount to 162.443 mln leva (83.055 mln euros), and profit will come to 20.3 mln leva (10.379 mln euros).
As we already informed, last year the company posted core activity revenues in the amount of 117.88 mln leva (60.271 mln euros), while profit stood at 5.2 mln leva (2.658 mln euros).
As of January 1, Trace Group Hold's units have have endorsed contracts worth 188.113 mln leva (96.180 mln euros), for projects to be implemented between 2007 – 2009. The company has also signed new contracts worth 71.122 mln leva (36.364 mln euros), which are due to be completed between 2007 – 2008.