Fans rush for CSKA Sofia shares as club makes market debut

cska IPOBy Alexander Krassimirov
March 21 - CSKA Sofia supporters were sent into a scrambling frenzy after the official release of the club on the Bulgarian Stock Exchange. Fans bought more than 55,000 shares in less than an hour after they went on sale this morning.

The share sale was opened at a special ceremony at the Bulgarska armia stadium. This is the first public offering of shares by the club.

There are 3 million shares available with price packages at about 3 leva (€1.5). The minimum amount of shares that can be bought is 10 shares. The club announced that the campaign will be considered successful if 1,409,210 shares are sold.

In the last few days in all banks in Bulgaria the supporters could made requests for purchase of share packages.

The president of the club Alexander Tomov said that he expects big investors to also buy into the club. Tomov is the biggest shareholder at CSKA with 198,000 shares.

CSKA Sofia is the first football club from Eastern Europe to become publicly traded.

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