Credissimo on its way to Bulgaria's stock exchange Credissimo is the first fast loans company to set eyes on the stock exchange. The company was founded 7 years ago and is currently the fifth largest from a total of 51 non-bank financing companies. At present it is one of the leading companies in the sector following BNP Paribas Consumer Financing, UniCredit Consumer Financing, Easy Credit and Profi Credit. According to the latest data, by the third quarter of 2013 it had issued fast loans for nearly BGN 9 million, while its net profit was BGN 2 million. It managed to conquer the market with uncommon products such as a credit issued in 20 minutes and an online loan application. Its business grows with over 100% YoY and expectations over stricter regulations do not trouble its owners. Credissimo’s owners are Bulgarian, while it is managed be shareholder Konstantin Krastev. The Commission for Financial Supervision (CFS) has already approved the prospectus for its listing on the stock exchange, while the intention of the owners is for stock trade to begin until end-April. The goal of the listing is not to attract financial resource, but rather a strategic partner. This is why the company will offer investors only a limited number of stocks at first. The company is planning to offer its entire capital of BGN 2.5 million on the stock exchange, distributed in stocks with BGN 1 par value. The issue manager Mane Capital did not make any forecasts on the initial price at which the stocks would be offered, but according to its Managing Partner Ilian Skarlatov they should evoke interest on the market.
Source: Capital (15.04.2014)