The First Private Hospital in Bulgaria goes on the Bulgarian Stock Exchange

Hygia- the first private hospital in Bulgaria - is on the Bulgarian Stock Exchange (BSE). Yesterday the Financial Supervision Commission (FSC) requested additional documents prior to the confirmation of the prospectus for initial public offering, reports money.bg

Hygia will offer 1.3 million new shares, which will increase its capital from 2 to 3.3 million leva. The minimum issue value will be 5 leva or 6.5 million fresh capital from the investors. The funds will be used to open new wards and clinics in the medical facility and to purchase high-tech medical equipment, it is clear from the decisions of an extraordinary shareholders' meeting.

Public offering will be considered successful if at least 10,000 new shares are subscribed. The current shareholders will not subscribe shares of the capital increase, the decision says. For the investment intermediary Capman AD was selected. MHIA "Hygia" AD, which is located in the town of Pazardjik, was founded in the distant 1991 and is the first private hospital in Bulgaria.

In 2005, the company attempted to come out on the stock exchange, but not through IPO, but through a secondary offering but did not get a "green light" from the FSC. Executive Director and Majority Owner with 85.7 percent is Prof. Dr. Stayko Spiridonov. The financial results for 2017 show that revenue reaches 6.2 million, but the profit is only 22 000 levs. The company has debts of 8.2 million leva.