Impulse IPO Bulgaria Stock Exchange

ImPulse plans IPO on Bulgaria Stock Exchange’s BEAM market


Sofia-based ImPulse I, prepares to go public on July 7, carrying out an initial public offering (IPO) on Bulgarian Stock Exchange’s BEAM market. The investment company aims to raise up to BGN 6 M to invest in growing companies.

ImPulse I will offer investors up to 5,334,000 ordinary shares with a nominal value of BGN 1 ($0.62) apiece and issue price of between BGN 1 and 1.10 within one trading session. The IPO will be considered successful if at least 500,000 shares are subscribed and paid for, according to Bulgaria-based financial group and IPO lead manager Karoll AD.

Established by Nikolay Martinov and Viktor Manev (founders of Impetus Capital and Impetus Partners), ImPulse I has a registered capital of 590,266 levs divided into 590,264 ordinary shares with a par value of BGN1 each and two preference shares with a nominal value of BGN 1 each, as per Trade Registry data. The company’s board of directors includes Blagovest Krachev, an experienced investment broker with a demonstrated history of working in the financial services industry.

ImPulse I is specialised in investments in growing public and private companies active in sectors that form over 70% of the growth of the Bulgarian economy (IT, FinTech, modern trade, fast moving consumer goods, transport and logistics, etc.), as well as sectors with double-digit growth globally and companies that regularly distribute dividends. The Bulgarian company invests up to 30% of its assets in companies distributing dividend and up to 70% of its assets in investment instruments.

BEAM is a special market organised by the Bulgarian Stock Exchange (BSE) which allows small and medium companies in Bulgaria to receive financing. BEAM market is the first step on the road  for a company to get listed on the regulated market.

Companies listed on the BEAM market have access to a wide range of individual and institutional investors, with pension companies the only restriction due to the existing legal restrictions. BSE uses the same electronic trading platform T7®, operated by Deutsche Boerse, for both the trading on the regulated market and the BEAM market.

ImPulse I’s IPO will be the third for the BEAM market.

BSE’s benchmark SOFIX index has increased by more than 17% since the beginning of the year. Meanwhile, BSE enjoys over 21% growth in its turnover for the first five months of 2021 compared to the same period last year.

Of note, at the General Meeting of Shareholders of BSE held on Thursday(June 24) a decision was made on 52.24% of the net profit for 2020, amounting to BGN 526 628.80 to be distributed as a dividend to the shareholders or BGN 0.08 per share.