Allterco IPO oversubscribed

This is the first oversubscribed security offering on the Bulgarian Stock Market since 2008.

The price of the Initial Public Offering (IPO) of Allterco AD is BGN 1.45 per share, determined in accordance with methodology disclosed in the prospectus. All submitted market and limited orders in the price range BGN 1.45 – BGN 2.20 are executed at a single price offer. Investors confirmed limited orders for 1.7m shares at a price level of BGN 1.45 per share, while the new shares subject to the IPO are just 1.5m.

Great demand by 200 investors, 11 brokerage firms and 15 institutional investors with 240 limited and market orders resulted in requests for 2.5m shares, more than 3 times the IPO success threshold. 2/3 of all 1.5m shares subject to the IPO were subscribed by individual investors and 1/3 by entities, including institutional investors.

Karoll Brokerage, the lead manager of Allterco IPO, keeps list of distribution of customers’ shares, which is available at Karoll Building, 1 Zlatovrah Str., Sofia, Bulgaria. All other Bulgarian investment intermediaries’ clients can obtain information about the number of shares assigned to them from their personal stock brokers.

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