4 415 435 new shares of ELANA Agrocredit were subscribed and paid by 16th October 2013 – the deadline for the IPO of the company. The new capital raised is BGN 4 415 435, which is double the limit defined for the success of the IPO. As a result the total amount of ELANA Agrocredit capital was increased to BGN 5 115 435.

The company will implement its plans for financial leasing on agricultural land combing the new capital with an increase by a loan which is an issue of negotiations at the moment.

ELANA Agrocredit will start trading shares on the Bulgarian Stock Exchange in the end of November 2013.

Comparison with local IPOs

For the last 3 years ELANA Agrocredit is only the third company that decided to make an IPO on the Bulgarian Stock Exchange. The other two managed to raise a total of BGN 352 000 from the market.