EuroHold Bulgaria AD - listing and first day of trading on Warsaw Stock Exchange

December 15, 2011 – Sofia, Bulgaria – the first day of trading of the shares of EuroHold Bulgaria AD (EuroHold) on the Main Market of the Warsaw Stock Exchange. The company is the second Bulgaria-domiciled issuer listed on the Polish Main Market. EuroHold is a regional insurance, leasing and car sales company in the Balkans, majority owned by its senior management (58%). The number of shares authorized for trading on WSE is 108,643,712. The shares are freely tradable both on the WSE and the BSE (Bulgarian Stock Exchange), where EuroHold has been listed since 2007 and is included in the BSE-SOFIX stock index of the top 16 Bulgarian companies.

A recent successfully completed capital increase increased the number of shares outstanding to 127,345,000 as all newly issued shares (18,701,288) shall be admitted to trading on WSE in early 2012.

EuroHold’s listing on WSE has several clear objectives:
• Provide higher trading liquidity to all types of shareholders - more than 10,000 retail and around 12 large global institutional investors.
• Provide access to a wider investor audience and give EuroHold the ability to raise new equity and debt capital on the vibrant Polish capital markets.
• Introduce a credible investment proposition to Polish investors interested in investing in a leading regional non-banking financial services provider actively developing and growing in the South-Eastern Balkans (Romania, Bulgaria, Macedonia, Serbia and Turkey) – an area with solid macro fundamentals and fiscal stability over the last several turbulent years.

On September 26, 2011 EuroHold’s Board voted to seek official listing of the company on the Main Market of the WSE. The process of listing EuroHold’s shares was completed within 3 months of its launch, including all approvals and registrations with the Bulgarian Financial Supervision, the Polish Financial Supervision Authority, KDPW and the WSE.

Founded in 1996, EuroHold has turned itself into a regional non-banking financial services provider with a portfolio of three complementary businesses – general insurance, car leasing and car dealerships.

EuroHold has built a leading presence across the fast growing South East Europe(Romania, Bulgaria, Macedonia, Serbia and Turkey) which is the result of the rational gradual expansion strategy, executed over the past five years. One of the main competitive advantages of EuroHold Bulgaria is the close cooperation between its three core businesses which generates substantial operational and financial synergies. Active cross-selling practices between the divisions of the Company result in an unparalleled ability to offer one-stop-shop products and services to end customers at competitive prices – car-sales – leasing - insurance. The insurance sub-holding is among the largest players in the general insurance business in the region commanding more than 5% market share in all countries present. The automotive sub-holding is the largest and most diversified importer of new cars in Bulgaria with around 12% market share. EuroHold also owns a stable and expanding regional leasing business present in three countries.

EuroHold’s expected revenues for FY 2011 are €210 million, total assets are €323 million and the shareholders’ equity is €111 million. The Group has more than 1 million insurance clients and more than 2,000 total employees in all countries of operation. The strategic goal of EuroHold over the next 3-5 years is through substantive organic growth to become the largest independent insurance group in the region with 8-10% market share.

 

EuroHold Bulgaria used the services of the following advisers throughout the process of the listing on the Warsaw Stock Exchange:
Euro-Finance (www.eurofinance.bg - a leading investment asset management and brokerage services provider in Bulgaria) is serving as financial advisor to EuroHold, along with Espirito Santo Investment Bank (Poland) and BAC (Balkan Advisory Company Securities) acting as structuring and listing advisors.
Łuczyński i Wspólnicy Sp.k. is serving as legal advisor to EuroHold.

 

 

For further information, please contact:
Mrs. Milena Stoyanova,
Investor Relations Director,
EuroHold Bulgaria AD
Tel. +359 2 9651-653
investors@eurohold.bg