MFG Invest, an investment company, managed to raise BGN 4.0m through its IPO procedure on the BSE‘s SME Growth market BEAM. Investors subscribed and paid for 1 195 016 shares of the total 1 775 200 offered on 6 December with nominal value of BGN 1.00 and issue price of BGN 3.38. Recall that the threshold was 800 000 new shares for the IPO to be successful. Since the first day offering was not oversubscribed, the majority owner will not offer up to 1 000 000 existing shares on 9 December. It is expected that the new share issue will start trading on the BEAM market within a month. The company plans to use the funds for investments in new companies and follow on investments in the existing portfolio companies.