IPO of "Eleven Capital" AD

 "Eleven Capital" AD, has aquired the first venture capital fund of Eleven. The company is preparing for listing on the Bulgarian stock exchange(BSE), looking to raise capital up to 4 mln. BGN. If the IPO is successful, the company will be the first one on BSE to give opportunity for retail investors to participate in the development of the local start-up ecosystem, an otherwise very difficults investment to enter. According to the company statute, it will distribute at least 90% of its profits as dividends among investors.   

 

Summary of the offering

Issuer            

"Eleven Capital" AD

Main business                                                                                                                                           

Management of a portfolio of equity interests of companies in the initial stage of development, whose main activity is the development and offering of highly technical or innovative products and services

New shares offering

500 000 ordinary shares

Nominal value per share

BGN 1

Price range

BGN 7.00 – 8.00

Conditions for success

At least 50% of shares offered or 250 000 shares

Net profits from the emission

3.39 mln. BGN –  3.88 mln. BGN

Types of orders

limited/market

Begining of subscription period

04.03.2020 г.

End of subscription period

17.03.2020 г.

Аnnouncement of price per share and allocation                     

19.03.2020 г.

Certification of the funds account

23.03.2020 г.

 

How to participate in the initial public offering of Eleven Capital AD shares?

  •  Step 1: Conclude a brokerage agreement with Karol AD in person in any of the following offices or remotely, without visiting our premises personally, by just filling out the account opening registration form which is available on our web-site: 

open account

  • Step 2: Your account setup application will be checked by our Compliance department. You will receive an email with request for additional documents/info in case of any missing or incomplete data. If everything is OK with your application, we will send you an email with instructions how to fund your brokerage account;
  • Step 3: Fund your account in order to acquire shares of Eleven Capital AD. Karoll AD’s bank account is indicated in the brokerage agreement;
  • Step 4: Place an order to participate. Type of orders:
  • -     Limit order – contains number of shares and price within the defined price range;
  • -     Market order – contains the total amount in BGN for which the investor would like to subscribe new shares at the determined uniform issue price within the price range.
  • Step 5: Karoll AD will send you confirmation regarding the acquired shares and the achieved auction price if your order is executed;
  • Step 6: The acquired shares will be available for trading approximately 1 month after the successful completion of the capital increase subscription procedure.

For more information please read the "How to invest" guide in the Documents section and don't hesitate to contact us with any questions by phone at +359 2 4008 250 or by email at broker@karoll.bg.

Documents

General Information

Investors presentation "Eleven Capital" AD

How to invest

Prospect (only in Bulgarian)

Prospect for initial public offering of Eleven Capital AD

Summary of prospect 

Annex № 1 –Statute of Eleven Capital AD

Annex № 2 - Preliminary audited financial statement of Eleven Capital upto 30.09.2019 and audit document 

Annex № 3 and № 4 – Corporate decisions for increase of capital and accepting the updated version of the prospect. 

Investor warnings

Investors warnings

 

 

Bulgarian Stock Exchange Department

1 Zlatovrah Str., Sofia 1164, Bulgaria

Monday - Friday

9 AM - 6 PM

Phone: (+359 2) / 4008 250

Е-mail: broker@karoll.bg

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