235 Holdings AD is seeking acquisitions. 235 Holdings is planning to invest the proceeds of its planned initial public offering (IPO) on the Bulgarian Stock Exchange into the purchase of land, residential properties and securities. 235 Holdings will seek to raise BGN 19.9 million through the issuance of 19.9 million regular shares with a nominal value of BGN 1 each, the company said in a prospectus, published on the website of the Financial Supervision Commission. 235 Holdings will consider the IPO successful if at least 5 million shares are subscribed for and paid for. 235 Holdings plans to invest up to 70% of the IPO proceeds, or up to BGN 13.9 million, in real estate and the purchase of equity stakes in companies which offer services related to the real estate sector, such as engineering, construction, architecture and others. 235 Holdings also plans to acquire majority stakes in three companies - one offering construction services, one for software engineering related to real estate and one offering property management.