Construction holding Glavbolgarstroy plans public offering

The country’s largest construction and engineering holding Glavblgarstroy may offer shares for public trade in April after the annual financial report of the holding is prepared. The sales of Glavbolgarstroy reached EUR 150mn last year, 95% of which come from the local market. The holding operates also in Russia , Ukraine , Belarus , Kazakhstan , Uzbekistan , Germany , and Middle East . It employs more than 3,500 workers. Besides construction activity, Glavbolgarstroy invests in tourism and vacation real estates, and produces and trades construction materials. It plans to invest a total of EUR 30mn in the large winter resort Super Borovets and in another one in the north-western town of Berkovitsa . It is rumoured in the local press that the holding would participate in the second tender for modernisation of the first terminal at Sofia Airport . The road construction holding Trace Group operated a 10% capital hike in a public offering last week, which attracted bids for a total of BGN 32bn or nearly 60% of the projected full-year GDP. Yesterday, another construction company, the Greek-owned Venus, announced plans to offer shares on the local stock exchange.