TBK advised the Eleven Capital IPO, Bulgaria’s first since 2018
TBK Financial Services Team has advised Eleven Capital on the first IPO in Bulgaria since 2018. Despite the current Covid – 19 pandemic and the persistent pressure on financial markets across the world during the 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 provided the issuer with full legal support during the whole IPO process, advising Eleven Capital during the prospectus preparation phase, the prospectus approval procedure before the Bulgarian Financial Supervision Commission and the IPO subscription period.
Following the successful IPO Eleven Capital will be the first venture capital listed on the Bulgarian Stock Exchange. The TBK team was led by the Managing Associate – Damyan Leshev with the participation as key expert of the Associate Petar Ivanov. Nikolay Bebov – Managing Partner was the partner in charge for the project.