Primorsko Club – spin-off (2011) and listing (2012)

 

Albena is a listed Bulgarian company operating mainly in the hospitality and tourism industry. Albena owns multiple hotels and manages many subsidiaries in industries supporting the core business - transport, medicine and spa, tour operator activity, agriculture and construction.

 

In 2001, Albena acquired the sea-side resort complex MMC Primorsko as a part of the company VMT Orbita. In 2011, the Financial Supervision Commission approved the plan for restructuring of Albena by the spin-off of Primorsko Club as a sole-proprietorship joint stock company. The shares of Primorsko Club (emissions of EUR 1.0mn) were admitted for trading on the Bulgarian Stock Exchange in the beginning of 2012.

 

Bulbrokers Consulting advised Albena on the spin-off of Primorsko Club and its consecutive listing of the Bulgarian Stock Exchange.