Producer of Poultry Products "Gradus" went Public with Shares of More than BGN 100 Million
The producer of poultry products "Gradus" is going on the Bulgarian Stock Exchange in the middle of the year. This happens a quarter century after the founding of the Stara Zagora company.
"Gradus" announced that it will offer investors an IPO of over BGN 100 million. The capital raised will be used for the development of existing and new business lines related to the production of food products. The manager of the issue is First Financial Brokerage House. This will be the largest IPO in Bulgaria after the 2008 crisis and will give investors the opportunity to enter one of the least represented sectors on the stock market and at the same time one of the most rapidly growing sectors of the food industry, said the press release to the media.
Preliminary studies have shown strong interest from both institutional and private investors in Bulgaria and abroad. For the past year, Gradus will report over 34 million BGN net profit and about 200 mln leva revenues. The company is among the biggest meat producers on the Bulgarian market and among the top three of the largest breeders of eggs in Europe. Gradus is the first in our country to produce poultry meat products with 35% market share.
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