DGKV acted as legal advisor of the leading local poultry producer Gradus -1 OOD (“Gradus”) in relation to the initial public offering (“IPO” / ”public offering”) of its shares on the Bulgarian Stock Exchange (“BSE”). The company raised a total of BGN 81.4 mln from the sale of its shares, making it the largest IPO since 2007 and the second largest with regard to the amount of funds raised, Bulgarian Stock Exchange data shows. For reference, according to public data, the most successful recent listings were for between BGN 10 mln and BGN 13 mln.
DGKV was involved in providing assistance on overall the restructuring of the Gradus group the purposes of the IPO. The law firm further advised on the public offering and preparation of the prospectus. The Financial Supervision Commission approved the prospectus in late May and the shares of Gradus [BUL:GR6T] started trading on BSE on 18th June 2018. The IPO included simultaneous offering of new and existing shares of Gradus which makes it a unique offering of this type for the Bulgarian market.