Over BGN 1.3 mln. turnover with ELANA Agrocredit shares in a few hours of trading on day one

Trading day one for ELANA Agrocredit shares was inaugurated with a special event at the Bulgarian Stock Exchange.

The company shares are registered for trading with the ticker 0EA.

Mr. Vasil Golemanski, Deputy Chairman of the Bulgarian Stock Exchange greeted ELANA Agrocredit management and noted: “We are very glad that one of the oldest members of the Bulgarian Stock Exchange who enjoys considerable experience with a variety of financial instruments, is now listing again a company on our market.”

ELANA Agrocredit Executive Director Kamen Kolchev presented the business model of the company and pointed out that already half of the funds raised via the IPO have been invested in financial leasing contracts with agricultural producers who are buying the land they work on. The company IPO raised BGN 4 415 435 and increased its capital to BGN 5 115 435.

Mr. Kolchev said company planned all funds to be invested in financial leasing contracts by the end of January 2014. Meanwhile, he added, that negotiations for a loan are in progress. He was convinced that ELANA Agrocredit will launch a secondary public offering on the Bulgarian Stock Exchange in mid-2014.

The first deal with ELANA Agrocredit shares came shortly after the bell ritual and amounted at 300 000 shares.

The turnover for the first 3 hours of the trading session went over BGN 1 300 000.