Herti has already been transformed to a joint stock company with a registered capital in the amount of 12 mln leva (6.135 mln euros), the company's financial director Elena Zaharieva told profit.bg.

Currently, the company is preparing a prospectus for the initial public offering, which it plans to hold before the end of October.

The IPO will be held together with a new capital increase, the exact parameters of which have not yet been settled. Shares equal to about 20% of the capital will probably be offered, Mrs. Zaharieva also said.

The company produces aluminum screw caps for bottles. It established subsidiaries in France and England, and is also planning an expansion to the markets of South Africa and South America. Herti also intends to increase production capacity in the manufacturing of aluminium caps for wine bottles.

The company’s 1H revenues grew 30% from 9.68 mln leva (4.949 mln euros) a year ago, to 13 mln leva (6.646 mln euros) on June 30.

In 2006 Herti posted sales revenues at 23.638 mln leva (12.085 mln euros), and in 2005 – 22.217 mln leva (11.359 mln euros).

In April Herti founded a joint venture in France – Herti France, in which it owns 33% of the capital. It produces aluminuim and plastic caps for soft alcoholic beverages, wine, mineral water, fruit juice, olive oil, medicines etc.

At the end of last year, Global Ratings AD assigned an initial long term credit rating A+ to the company. The company’s short term rating is a-1.