Allterco’s shares started their secondary trading on the standard segment of the Bulgarian Stock Exchange (BSE) under the ticker symbol A4L on December 1, 2016. The symbolic ringing of the BSE’ bell was at 10:00 am by Vasil Golemanski (CEO of BSE), Dimitar Dimitrov (CEO of Allterco) and Angel Rabadzhiyski, CEO of Karoll, the lead manager of the IPO. The indicative reference price for the first trading session was set at BGN 1.45 per share. On the first day of trading, the shares appreciated by 17% as the closing price reached BGN 1.167 per share.
The strong start of the secondary trading is a logical continuation of the success of Allterco’s IPO, which was completed in October and was managed by Karoll. Allterco offered 1.5 mln new ordinary shares to investors during its IPO with an issue price range of BGN 1.10 – 2.20 per share. The final IPO price was set at BGN 1.45 per share. The IPO attracted huge interest and received orders by investors more than tripled the IPO success threshold of 750 000 shares as submitted orders were for 2.5 mln shares. As a lead manager of the IPO, Karoll managed to attract 160 new investors and almost BGN 2.2 mln for Allterco. The IPO proceeds will be used for setting up a Research and Development center in Bulgaria for development of new technologies in the IoT segment, which is a new business segment for Allterco. Also, in the R&D center, the team of experts of Allterco will work on the further development of the top products of the company in the IoT: the smartwatch for children “MyKi”, the smart pet’s collar “MyKi Pet” and the home automation system “She”.
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