Devin to raise capital in IPO

Bulgarian water bottling company Devin plans to raise its capital through an initial public offering of 3m shares on the Sofia bourse.

The company said that it will issue 3m shares to investors
on the stock exchange and has chosen Elana Trading investment intermediary to
manage the listing. Devin has a capital of US$10.3m divided in the same number
of shares, according to reports.

Devin is based in the southern Bulgarian town of the same
name and specialises in mineral water, spring water and carbonated
fruit-flavoured soft drinks. Earlier this year the company started distributing
Red Bull in Bulgaria.