Bulgarian Telecommunication Company (BTC)

With a mandate by the Privatization Agency, Bulbrokers, together with the United Bulgarian Bank and the National Bank of Greece, prepared legal and financial due diligence of BTC, a share offering strategy, marketing activities and investor road shows, which led to the successful placement of the shares on the stock exchange.

Key Figures:

• Shares sold: 2 869 251
• Price in compensatory instruments: 595 059 000 leva (nominal value)
• 99.5% of the shares were sold on the first day of the offering
• 34.8% of the capital of BTC was privatized through a public offering on the Bulgarian Stock Exchange (January, 2005)

All the shares were placed in only four days, as 99.5% of the shares were sold on the first day of the offering, following the strong domestic and foreign interest. This successful transaction once again proved the advantages of privatizations via the stock exchange and lead to an unprecedented market rally.