Biodit To Offer 2.2 Million Shares In IPO

Bulgarian biometric identification security solutions developer Biodit Global Technology said that its shareholders have approved the management’s proposal to offer 2.2 million shares for subscription in an initial public offering (IPO) on the Bulgarian Stock Exchange (BSE).

The shares, which carry a nominal value of 1 lev ($0.58/0.51 euro) each, will be offered in the price range of 1.0-1.1 levs, Biodit Global Technology said in a filing to the Bulgarian commercial register on Monday.

Currently, the company has a registered capital of 12.5 million levs, divided into the same number of shares.

The IPO will be considered successful if at least 1 million shares are subscribed for and paid for.

In addition, the company’s shareholders approved a proposal to change the company’s name from Biodit Global Technology to Biodit.

Last year, Biodit Global Technology said that it intends to seek financing under the SME Promotion Agency’s voucher scheme in order to finance the cost of its planned initial public offering.

The EU-backed voucher scheme envisages granting vouchers of 50,000 levs each to Bulgarian micro, small and medium-sized enterprises (MSMEs), intended to cover the costs of an IPO on the Sofia bourse. Companies receive the funds only if they successfully raise 500,000 levs or more through their IPO within nine months of the voucher’s issuance. 

Read More

1.75 Million Cigarettes Seized

Bulgarian authorities at Silistra checkpoint near the border with Romania have captured 1.75 million undeclared cigarettes, officials said here on Friday. The cigarettes were found...

Bulgaria Has The Highest Organic Farming Exports

Bulgaria and Croatia are the EU member states with highest growing organic farming sectors in the 28-nation bloc, the latest data from the European...

Famous Romania Prosecutors Look To Help Bulgaria & Moldova

Two Romanian former prosecutors, Monica Macovei and Laura Codruța Kövesi who have been in the spotlight for spearheading anti-corruption initiatives in Romania (a little too successfully, some say)...

Recent

Russia Ratifies Support For Paris Climate Accord

French President Emmanuel Macron welcomes Russia's decision to ratify the Paris Climate Agreement, describing it as remarkable news. Earlier, it became known...

184,000 E-Vignettes Installed In Romanian Cars So far

Over 184,000 e-vignettes have been sold to Romanian cars so far, the Ministry of Regional Development and Public Works has said. Twice more are...

Dacia Continues To Dominate Bulgarian Car Market

The Romanian brand Dacia retains the leadership of the market for new cars in Bulgaria for sixth consecutive year with sales of...