The company behind Palms Bet will try to raise at least BGN 20 million from the BSE

The first IPO for 2022 in Bulgaria will be of a company from the gaming sector. Telematic Interactive Bulgaria, which manages the Palms Bet betting platform, will try to raise BGN 20 million from the BSE on Monday, February 14. The offering will last until February 18, with the method being book building. The company will offer 400 000 new ordinary, paperless, registered shares with a nominal value of BGN 1 at a price of BGN 50 to BGN 75 per share. In parallel with this, if there is interest, Telematic will also offer 400 000 existing shares. Thus, the company can raise between BGN 20 and 40 million, and with the additional shares the volume of the offering will double, but the proceeds from the old shares will go to the existing owners. The final shareholders of the company are Milo and Rossina Borissovi, who are a brother and a sister.

The intermediary for the IPO is Sofia International Securities, but investors can submit orders through all licensed investment intermediaries. “Our desire is to achieve a balanced shareholder structure of individual and institutional investors, both local and foreign, which will also allow good liquidity during the subsequent trading on the BSE”, Capital quotes. See more