Intercapital Property Development ADSIC on NewConnect
13-08-2010
Intercapital Property Development ADSIC has become the first Bulgarian company traded on an organized market outside Bulgaria. Subsequent to last week's decision of the Warsaw Stock Exchange to permit the trade of ICPD's shares, Wednesday - 11.08.2010 the actual trade with the shares began on the alternative system for new companies “New Connect".
During an official ceremony, held at the Warsaw Stock Exchange Building, the start of the trade was announced. The ceremony was attended by: his excellence Mr. Ivan Naydenov - ambassador of the Republic of Bulgaria in Poland, Mr. Velichko Klingov - CEO of ICPD, Miroslav Sevlievski and Nicolay Mayster - members of the Board of directors of IP “Intercapital Markets" AD, ICPD's legal representative in Poland - Łuczyński i Wspólnicy Sp.k., representatives of Copernicus Securities S.A. - market maker of the issue in Warsaw, Ms Iwona Sroka - president and CEO of Poland's Depository, journalists of over 10 Polish medias as well as many other guests. The Warsaw Stock Exchange was represented by Ms. Jaros - member of the council of directors.
The event is also the first of its kind for the Warsaw Stock Exchange as ICPD is the first Bulgarian company traded on the Polish capital market and is the success of a number of years that the management of the Polish stock exchange has spent to attract Bulgarian companies. ICPD is only the third foreign company traded on the “NewConnect" market. Representatives of ICPD and the Warsaw Stock Exchange have united their efforts to make “New Connect" a leading market in Eastern Europe for young, innovative, dynamically developing companies and ICPD has pledged to continue with their excellent corporate politics and responsibility towards its shareholders.
The goals ICPD has set by this dual listing are several. Firstly ICPD aims to gain benefits to its current shareholders. Around 10% of the company's shares are already owned by Polish institutional or private investors. The listing in Poland facilitates specifically these investors and will be a benefit to all others by contributing to the better evaluation of the company as well as to the higher liquidity of the trade with its shares.
Another important goal is the diversification of the financial resources for the company. By listing in Warsaw, ICPD will have access to a much wider circle of investors in Poland. Additionally the market is very big and consists of many different types of investors - pension funds, mutual funds varying in strategy, private investors etc. Now that ICPD's shares are traded in Poland, it will be a lot more convenient and easier for all these investors to follow ICPD's development and financial results as well as making simplified and justified decisions for investment in its shares.
At present ICPD is carrying out a procedure for attracting new funding by means of a capital increase. The rights to participate in the increase, issued by the company, were traded on the Bulgarian Stock Exchange and the term for payment of the ordered shares expires on Wednesday 18.08.2010. ICPD expects to see the first results of the dual listing even during the current capital increase. According to the managers of the issue there has been interest for the acquirement of shares from the capital increase by a number of potential Polish investors.
During an official ceremony, held at the Warsaw Stock Exchange Building, the start of the trade was announced. The ceremony was attended by: his excellence Mr. Ivan Naydenov - ambassador of the Republic of Bulgaria in Poland, Mr. Velichko Klingov - CEO of ICPD, Miroslav Sevlievski and Nicolay Mayster - members of the Board of directors of IP “Intercapital Markets" AD, ICPD's legal representative in Poland - Łuczyński i Wspólnicy Sp.k., representatives of Copernicus Securities S.A. - market maker of the issue in Warsaw, Ms Iwona Sroka - president and CEO of Poland's Depository, journalists of over 10 Polish medias as well as many other guests. The Warsaw Stock Exchange was represented by Ms. Jaros - member of the council of directors.
The event is also the first of its kind for the Warsaw Stock Exchange as ICPD is the first Bulgarian company traded on the Polish capital market and is the success of a number of years that the management of the Polish stock exchange has spent to attract Bulgarian companies. ICPD is only the third foreign company traded on the “NewConnect" market. Representatives of ICPD and the Warsaw Stock Exchange have united their efforts to make “New Connect" a leading market in Eastern Europe for young, innovative, dynamically developing companies and ICPD has pledged to continue with their excellent corporate politics and responsibility towards its shareholders.
The goals ICPD has set by this dual listing are several. Firstly ICPD aims to gain benefits to its current shareholders. Around 10% of the company's shares are already owned by Polish institutional or private investors. The listing in Poland facilitates specifically these investors and will be a benefit to all others by contributing to the better evaluation of the company as well as to the higher liquidity of the trade with its shares.
Another important goal is the diversification of the financial resources for the company. By listing in Warsaw, ICPD will have access to a much wider circle of investors in Poland. Additionally the market is very big and consists of many different types of investors - pension funds, mutual funds varying in strategy, private investors etc. Now that ICPD's shares are traded in Poland, it will be a lot more convenient and easier for all these investors to follow ICPD's development and financial results as well as making simplified and justified decisions for investment in its shares.
At present ICPD is carrying out a procedure for attracting new funding by means of a capital increase. The rights to participate in the increase, issued by the company, were traded on the Bulgarian Stock Exchange and the term for payment of the ordered shares expires on Wednesday 18.08.2010. ICPD expects to see the first results of the dual listing even during the current capital increase. According to the managers of the issue there has been interest for the acquirement of shares from the capital increase by a number of potential Polish investors.
