The local producer of aluminium and plastic caps Herti is planning to hold a public offering. The company would offer some 2.5mn shares, accounting for 20% of the capital of the company booked at BGN 12mn (EUR 6.14mn) at present. The raised funds will finance the purchase of new equipment in order to increase production capacity, which currently stands at 1.3bn caps annually, by 40 to 50%. The company is located in the north-eastern city of Shumen and holds leading position on the local market. It has established subsidiaries in France and in UK this year. The sales of the company stood at BGN 23.6mn last year and reached BGN 13.5mn in Q1.
Source: Intellinews-Bulgaria Today