Solarpro Holding was established as a subsidiary of Kaolin to consolidate its RES projects (Solarpro Holding includes companies Alfa Energy Holding and Solarpro). In 2010, a restructuring of its ownership was executed, in a result of which Alfa Finance Holding became a direct majority owner in the company.
As a first step in this process of ownership restructuring the shares of Solarpro Holding were listed at the Bulgarian Stock Exchange (the issue amounted to EUR 23.9mn). The team of Bulbrokers Consulting prepared the prospectus for admission to trading on a regulated market and consulted the company in the entire process of its restructuring into a public company.
As a next step towards the restructuring of the ownership, a swap transaction was launched. Kaolin offered its shareholders to exchange Kaolin shares with shares in Solarpro Holding. The transaction was conducted successfully, whereas total 1,330,002 shares in Kaolin (5.32% of its capital) were exchanged (85.12 % of the total amount of shares available for conversion according to the parameters of the transaction). They were converted into 34,580,052 shares of Solarpro Holding (73.95% of capital). The investment intermediary Bulbrokers executed the swap procedure.