Bulgarian High-tech Company Goes Public

Business | February 7, 2019, Thursday // 15:44| Views: | Comments: 0
Bulgaria: Bulgarian High-tech Company Goes Public

Bulgarian high-tech company BIODIT wants to go out on the stock exchange. At an Extraordinary Shareholders Meeting on January 24th, it was decided that the company should prepare the documents for access to the Bulgarian Stock Exchange. BIODIT specializes in the development of the most advanced biometric access control and working time systems based on biometric identification. Among its products are biometric locks for wireless access control, anti-theft device and others. Its clients are companies such as Allianz, Lexus, Raiffeisen Bank, Net 1, United Milk Company, Madjarov and others.

BIODIT plans to release 2.2 million new shares with a nominal value of BGN 1 and a price range between BGN 1 and BGN 1.1. An investment intermediary will be Carroll. At present, the company has a registered capital of BGN 12.5 million, and after the IPO it will be increased to BGN 14.7 million. It is also clear from the decision that all the shares of the company will be registered for trading on the BSE. From the 2017 communication report it became clear that the company registered a loss of 721 thousand and the result from previous years was a loss of BGN 771 thousand In 2017, total revenues amounted to BGN 286 thousand, compared to BGN 273 thousand in 2016.

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