Tsvetkova Bebov Komarevski has advised Eleven Capital on its IPO – the first in Bulgaria since 2018. The Karoll investment firm placed the IPO.
According to a TBK statement, "despite the current Covid-19 pandemic and the persistent pressure on financial markets across the world during recent weeks, the IPO was successfully placed among ninety institutional and retail investors, evidencing the strong demand of the investor base for the opportunities related to the venture capital business."
TBK advised Eleven Capital throughout the process, including the prospectus preparation phase, the prospectus approval procedure before the Bulgarian Financial Supervision Commission, and the IPO subscription period.
As a result of the IPO, Eleven Capital will be the first venture capital firm listed on the Bulgarian Stock Exchange.
The TBK team was led by Managing Associate Damyan Leshev, assisted by Associate Petar Ivanov. Managing Partner Nikolay Bebov directed the team.