Mandated by the Privatisation 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: 945 803
- Price in compensatory instruments: 79.3 mil. leva (nominal value)
- Bulgartabak shares were placed within four weeks among strong interest from both local and foreign investors.
- 12.8% of Bulgartabak were sold in the beginning of June 2003 for compensatory instruments; papers worth 79.3 million BGN in par value were used.
Transaction Highlights:
- the first successful privatization in the tobacco sector;
- the deal which brought back the confidence in the Bulgarian capital market and strengthened the interest in high-quality public companies;
- the deal proved the advantages of the privatization through the stock exchange.