Kaolin – IPO (2007)
Kaolin is the largest producer of industrial minerals in Eastern Europe. The company mines, processes and markets a wide range of industrial minerals such as kaolin, quartz sand, clays, limestone, feldspar, dolomite, etc. Alfa Finance Holding became the majority shareholder in Kaolin in a result of a privatization transaction in 2000.
In 2007, an initial public offering of the shares of Kaolin was successfully executed on the Bulgarian Stock Exchange. The share capital of Kaolin was increased from EUR 10.4mn to EUR 12.8mn, whereas 4.58mn new shares were subscribed at price of EUR 6.9 per share – with attracted amount of EUR 31.6mn this IPO became one of the largest in the country. About 85% of the new shares were subscribed by major institutional investors.
Bulbrokers Consulting acted as advisor to the majority shareholder Alfa Finance Holding on the IPO of Kaolin, its work including preparation of prospectus and other documentation, communication with regulatory body the Financial Supervision Commission and overall organization of the process. Bulbank was the leading manager.