Investment Banking

For its corporate customers DISL offers thefollowing investment and consulting services:

 

IM „D.I.S.L. Securities ” AD offers its experience and professional consultations at structuring and managing of initial and secondary public offering of shares ( Initial Public Offering /IPO/, Secondary Offerings). Our specialists perfectly know the legal regulation of the public offering, analyze the tendencies of the capital markets and investigate the expectations of the participation at it.

Initial Public Offering /IPO/, is the process when a company offers shares on the public market for the first time. Carrying it out , the company gains an access to a fresh money resource which opens new opportunities for working out and realization of its strategic aims. For a developing company it will lead to an increase of the value of the company and improvements of its profitability. IM „D.I.S.L. Securities ” AD offers its competent services in case that your company search for a variant for ensuring a solid capital base for expanding, innovations, mergers and when it needs a fresh resource to continue to function at a new quality higher level developing new strategic projects, to improve its capital structure, solvency and value of the company. And due to it , a future financing happens at better interest conditions and at greater amount. Every subsequent sale of securities of the company is called Secondary Offerings.

Secondary Offerings – Usually it is done by companies that want to increase their capital and need opportunities for re-financing. In this way the company increases its market capitalization / the value of the company/. Secondary Offerings is accomplished when one or some of the share holders of a company sell the shares they possess. In many cases these are the minor share holders of the company. IM „D.I.S.L. Securities” AD cooperates with the companies at the realization of the Secondary Offerings of securities. This is an appropriate variant for investors who want to sell a part of the company or the whole company and in this way to receive a just market price.

Increase of the capital

The process includes several stages – financial analysis of the company, legal consultations and structuring of the new emission, investigations of the investor’s interest and entire preparation of the necessary documentation for the Financial Supervision Commission, the Central Depository AD and the Bulgarian stock Exchange – Sofia AD.

Tender offerings

The process includes preparation of all necessary document, including reasons and arguments for the offered price per share after applying the required evaluation methods to the Financial Supervision Commission and the Bulgarian stock Exchange – Sofia AD.

Tender offering is realized when a share holder of a particular company makes an offer for acquiring a certain pe cent of the shares, held by other share holders. The offer is made at a fixed price per share, usually including a premium above the market price. Depending on the amount of the acquired shares, the tender offering is compulsory or voluntarily.

Tender offering protects the interest of the minor share holders. The change of the major owner in a company could lead to a change in the management, the subject of activity, the statute and other significant events for the company which the minor share holders can not control. The Law for public offering of securities requires compulsory making of a Tender offering, when share holder acquires more than 50 per cent or 2/3 of the votes at the general meeting of the company.

IM „D.I.S.L. Securities ” AD grants a wide specter of financial services for private and public companies and contractors and among them these are:

Corporative consulting which includes financial – accountancy, legal and tax consultations, management of money flows of the companies, advices for optimizing the time structure and the currency composition of the money flows, management of risks. IM „D.I.S.L. Securities ” AD also offers consulting to the pre-structuring of the company, preparation and administration of plans of arrangements for companies with current operative and/or financial difficulties.

Structuring of investment projects – IM „D.I.S.L. Securities ” AD uses traditional financial products and sources for financing as well as innovative decisions, worked out in compliance with the needs of its corporative customers.

Company mergers and acquisitions – IM „D.I.S.L. Securities ” AD realizes the full set of services: organizes the process the merger and/or the acquisition depending on the specific requirements of every one of our customers; analyze the state of the companies that will be a subject of the merger or the acquisition (due diligence); coordinate the process for the merger / the acquisition with audit and legal companies ; analyze the opportunities for synergetic effect as a result of the transactions with the purpose to determine the parameters of the deal.
During the process of the merger, IM „D.I.S.L. Securities ” AD may represent not only the buyer but also the seller in the deal.

Evaluation of companies – IM „D.I.S.L. Securities ” AD evaluates companies with the purpose to present them before strategic investors and/or to give a real idea to the owners about the position of the company, evaluated by financial professionals. The evaluation includes: evaluation of the business environment where the company acts, how it is placed among the competitors, effectiveness of its management, to what extent the financial structure of the company is optimal, what opportunities for its pre-structuring with the purpose of its optimization may be undertaken, evaluation of the risks – systematic and non-systematic, their influence upon the company’s activity.