Telematic Interactive Bulgaria will distribute at least 40% of its profit for 2021, which means that new shareholders will be able to benefit from this. At this moment the exact number is not clear, but the company’s profit for the past year is a little over BGN 14 million. This became clear during the presentation of information about the upcoming initial public offering of shares of Telematic Interactive Bulgaria.
The public offering of 400,000 ordinary, registered, dematerialized shares with voting rights of Telematic Interactive Bulgaria will start on February 14, 2022, and investors will be able to submit offers for 4 days. The closing date for submission of applications is 18th of February 2022. The results of the subscription will be announced on the 21st of February 2022.
The prices are between BGN 50 and BGN 75 which will evaluate the Bulgarian company between BGN 200 mln and BGN 300 mln.
Telematic Interactive Bulgaria plans to increase its capital by 10% by issuing 400,000 new shares, which it expects to raise around BGN 20 million. If there is an interest – up to 400 000 existing shares will be offered for selling, with the aim of achieving greater liquidity. If all the shares are sold there will be 18.2% of the capital and the free float capitalization is expected to exceed BGN 40 million.
During the presentation of the information about the upcoming initial public offering, Milo Borisov, ultimate owner of Telematic Interactive Bulgaria explained that raising additional resources from the stock exchange will allow the company to realize its plans for expansion in foreign markets. Borisov drew attention to the fact that the company offers a product that unites the two directions B2C and B2B. He explained that the B2B direction will allow the company to easily enter many additional markets through other operators of B2C online casino platforms.
“On the B2B side, the portfolio is over 200 slot games, they are licensed and certified in 14 jurisdictions with several other jurisdictions in the pipeline. They are available on over 800 sites located globally, mostly in Europe, but there are quite a few in Latin America, Asia and Africa. We want to take the company to the stock exchange with the idea of showing that our business is transparent, socially responsible and has the potential for development”.
Regarding the public offering and the strategic goals of the company, Milo Borisov pointed out:
“We plan to focus the funds we accumulate through this public offering on Bulgaria and Latin America (Peru). Depending on the international situation in Ukraine, in the next few months ,we will monitor the possibility of entering this market as well”.
Borisov pointed out that markets such as Latin America and Ukraine have a significantly lower intensity of competition than the established European ones, and are also well-known to the company, which has a presence through local offices there.
He specified that the focus in 2022 is the Peruvian market, and according to the company, they will be able to enter it by the end of the year.
Milo Borisov specified that the purpose of the additional shares is to ensure that there will be enough for all those who wish – small, medium and large shareholders. Regarding the offer – there are no restrictions on the size of the order that can be submitted by the participants.
There is no look-up period for the old shareholders, so they are not allowed to sell for a period of 12 months.
Among the company’s goals is to be listed on a European stock exchange in the next 3 years. For this, Borisov explained that they need experience and history that they will gain on the Bulgarian Stock Exchange.
During the presentation, it became clear that the company has increased its profits 40 times over the past three years.