Bulgarian Software Developer Sirma Group Holding to Launch IPO

Tsvetan Aleksiev, CEO of Sirma Group Holding, photo by Sirma Group Holding

One of the biggest Bulgarian software developers, Sirma Group Holding AD, is preparing an initial public offering (IPO) and an ensuing listing on the Bulgarian Stock Exchange (BSE-Sofia).

Tsvetan Aleksiev, CEO of Sirma Group Holding, described the IPO as a natural step in the development of the company, adding that it would be an opportunity to raise fresh capital, fast-track growth, and increase their presence on overseas markets.

The company seeks to raise its capital to BGN 65 837 156 from the current rate of BGN 49 837 156, according to a media statement.

Sirma Group Holding is to offer investors 16 million new shares at an issue price of BGN 1.20-1.65 per share.

Bulgarian brokerage Elana Trading is manager of the IPO.

The IPO prospectus is to be approved by Bulgaria’s Financial Supervision Commission.

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