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Investment intermediary Karoll, acting as lead manager, successfully executed the first convertible corporate bond on the BEAM growth market in the amount of EUR 5.006 million. The issuer of the debt instrument is the investment company HR Capital AD (HR Capital, BSE: HRC).
The innovative financial instrument offers investors the option to choose between an 11.00% annual interest rate or conversion into company shares at maturity. As a result of the funds raised through the targeted bond issue, HR Capital increased its stake in eBag (a leading online grocery delivery platform in Bulgaria) to nearly 25%, becoming the second-largest shareholder in the company.
More than 250 individual and institutional investors from Bulgaria and abroad participated in the offering. This is HR Capital’s second issuance on the Bulgarian Stock Exchange and its first bond issue, following the company’s debut on the BEAM market at the end of 2021 with an equity offering (IPO) worth EUR 2.5 million.
With this latest successful project and a total of over EUR 28 million raised on the BEAM market, Karoll AD is establishing itself as a market leader in this segment.
About HR Capital AD (HR Capital)
HR Capital is a public investment company listed on the Bulgarian Stock Exchange, managing a concentrated portfolio of businesses positioned at the intersection of technology and the real economy.
About Karoll AD
Karoll AD is a leading investment intermediary with proven experience in managing public offerings and providing strategic financial advisory services. With a corporate focus on fostering growth and innovation through tailored financial solutions, Karoll supports companies in achieving their financial goals and expanding their market presence.
More information about the HRC bond issue: here
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