September 25, 2006

Huge investors’ interest in Chimimport’s shares offered in the biggest local IPO ever happened

Successfully finalized is the initial public offering of 11,083,914 new shares in Chimimport AD, the largest Bulgarian holding company operating in different sectors, including banking, insurance, pension funds, oil & gas, chemistry, air and water transport.

The issuer received nearly BGN 44.3 million (approx. EUR 22.7 million) proceeds from the IPO (BGN 4 offer price, BGN 1 nominal per share). Leading financial institutions and investment funds from Central and East Europe and Scandinavian countries, Bulgarian banks and institutional investors, as well as a great number individuals participated in the IPO.

Due to the oversubscription each investor will get around 40% of the shares wanted. However, the major shareholder of the company has agreed to increase the portion of additional shares to be allotted to selected investors, thus selling 1.3 million old shares.

Based on the offer price, the market capitalisation of Chimimport at commencement of dealings in the shares on the Bulgarian Stock Exchange is expected be approximately BGN 520 million (approx. EUR 267 million).

Chimimport increasingly inspires investors’ confidence, comment people from the industry, because of its consistent management policy, current profits, accumulated wealth and bright business prospects, stable trend toward more transparency and listing subsidiaries at the stock exchange.