Bulgaria's Biodit to Offer 2.2 Mln Shares in Sofia IPO, Changes Name

Bulgaria's Biodit to Offer 2.2 Mln Shares in Sofia IPO, Changes Name

Bulgarian biometric identification security solutions developer Biodit Global Technology said that its shareholders have approved the management's proposal to offer 2.2 million shares for subscription in an initial public offering (IPO) on the Bulgarian Stock Exchange (BSE).The shares, which carry a nominal value of 1 lev ($0.58/0.51 euro) each, will be offered in the price range of 1.0-1.1 levs, Biodit Global Technology said in a filing to the Bulgarian commercial register on Monday. Currently, the company has a registered capital of 12.5 million levs, divided into the same number of shares. The IPO will be considered successful if at least 1 million shares are subscribed for and paid for. In addition, the company's shareholders approved a proposal to change the company's name from Biodit Global Technology to Biodit.

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