Equest Investments Bulgaria Limited (EIBL) has announced it has raised gross proceeds of £43.9 mln (EUR 65.4 mln) through the placing by Collins Stewart Europeof 3,630,000 ordinary shares at £12.10 each per ordinary share on London Stock Exchange's Alternative Investment Market (AIM).
Equest Investments Bulgaria Limited (EIBL) has announced it has raised gross proceeds of £43.9 mln (EUR 65.4 mln) through the placing by Collins Stewart Europeof 3,630,000 ordinary shares at £12.10 each per ordinary share on London Stock Exchange's Alternative Investment Market (AIM).
The Company's issued share capital now comprises 17,324,350 ordinary shares All of the Ordinary Shares in the Company were admitted to trading on AIM and for trading on the Irish Stock Exchange. EIBL has to date invested and committed over EUR 130 mln in developing enterprises, mainly in Bulgaria, and to a limited extent in other countries in the Balkan region.
EIBL is to be renamed Equest Investments Balkans Limited following admission. Thw company was established by the UK-based Equest in 2004. Its strategic holdings include Vitosha Insurance, the fifth largest insurance company in Bulgaria; Immofinance, a Bulgarian residential and second home developer; Pelican Retail Holding, a development company for retail centres.
The company also now owns 75 per cent. of Lynx Property, which owns 100% of the subsidiaries trading as Technomarket - Bulgaria's largest wholesaler and retailer of consumer and home appliances.
