ELG, a new leasing company, has successfully launched for trading on the BEAM market. The company integrates various services, including digital platforms for leasing, purchasing, and renting used cars, long-term car rentals, financial leasing of vehicles, and operations in North Macedonia.
In late July, ELG conducted an initial public offering (IPO) where all 5,000 bonds were placed and even oversubscribed. This marks the second successful bond issue on the BEAM growth market. The funds raised amounting to EUR 5 million will be invested in expanding ELG’s subsidiaries.
Euro-Finance served as the lead manager for this bond issue. They are recognized as one of the leading investment intermediaries in Bulgaria’s capital market.
At a ceremony marking ELG’s first trading day on the Exchange, BSE executive director Assoc. Prof. Dr Manyu Moravenov expressed his support: “I hope you achieve maximum financing through the BEAM market and make a subsequent move to the EuroBridge segment, where your company will be traded alongside the largest European companies. You are opening a new, innovative chapter in your sector along with all the additional services you provide to your clients which indicates a strong business model.”
Asen Asenov, a major shareholder in ELG stated: “Our bond issue is the largest to date on the BEAM market in terms of value which attests to the good product we structured together with the lead manager and with assistance of BSE. The strong interest in ELG bonds is both recognition of attractive fixed yield and result of our successful business model. The listing on BEAM is only first step and we believe that our prospects on Bulgarian Stock Exchange are promising.”
The event also featured photos available at: https://shorturl.at/s7z4D
