Bulgarian Stock Exchange Welcomes Telelink Business Services to Its Floor
The Company Sold 70% of Its Offering a Few Hours After the Debut
Just a few hours after its debut on the Bulgarian Stock Exchange (BSE), Telelink Business Services Group AD (TBS Group) sold 70 percent of its offering.
The debut was marked with an official bell-ringing ceremony on the BSE on June 8. The company offered 7 percent of its stock during the first tranche of the flotation at a minimum price of 7.60 Bulgarian levs per share. The offering totals 12.5 million levs distributed among an equal number of shares with a par value of 1 lev each.
TBS Group stock is traded on the BSE Main Market, Segment Standard under a code TBS. The market maker of the offering is Elana Trading. The first tranche of the offering will continue for 10 working days until June 19.
“The TBS Group listing is a milestone for the Bulgarian capital market as this is the second technology company which becomes public in the last five years. The IT sector has achieved growth, it has great potential and a significant capacity to become the engine of the recovery of our country’s economy after the pandemic,” said Assoc Prof Manyu Moravenov, Ph. D, CEO of BSE.
“We consider our stock exchange debut, and the company going public as a whole, as a step towards advancement of our beliefs, management model and readiness for future growth. We are happy to give our new shareholders a chance to connect with us, with our culture and energy. I believe that we will welcome part of our employees as investors as well. My whole team and I accept the challenge to be the only system integrator on the BSE with a great deal of responsibility and energy,” said Ivan Zhitiyanov, TBS Group CEO.
By floating its shares on the BSE, TBS Group fulfills its plan from the beginning of 2020 to offer a limited percentage of its stock at a fixed attractive price and give more investors the chance to subscribe for shares. TBS Group believes that the move will provide possibility to a larger number of interested parties to get to know the company from the position of shareholders before the main offering which is scheduled for the second half of September 2020.
Learn more on the BSE website here.
For more information about share purchases, please click here.