The German family company for industrial minerals Quarzwerke GmbH will acquire from Alfa Finance Holding 67.32% of the capital of Kaolin. The deal will be closed after approval of anti-trust authorities in countries where Kaolin currently operates. After the acquisition Quarzwerke will make a tender offer for the remaining stocks traded on the Bulgarian Stock Exchange. Deal is expected to be closed at BGN 2.50 to BGN 4.30 per share. After finalizing the deal Quarzwerke will launch a mandatory tender offer, following local law to acquire the remaining shares of "Kaolin"
Source: Capital (02.01.2013)

Corporate commercial bank was awarded Investment Company that has registered the highest turnover on the stock exchange. Last year the company is Bulgarian Stock Exchange’s leader, as it collected over BGN 340 million in 635 deals. Thus, deals in which Corporate commercial bank was investment broker forms nearly 20% of stock exchange’s turnover.
Source: Monitor (11.01.2013)

Bulgarian REIT PRC sells property in Sliven to local co Furnit Bulgarian real estate investment trust (REIT) PRC said it has sold property located in southeastern town of Sliven to Sofia-based trade company Furnit for a total of BGN 815,200, Value Added Tax excluded. The sale contract was signed on January 15 and envisages the transfer of 2,472 square metres of property, including a one-storey building, the REIT said in a statement to the Sofia bourse on Wednesday. Sofia-based PRC was set up in 2007 with the Bulgarian-American Credit Bank as its largest single shareholder with a 30% stake and the remainder owned by private individuals. Currently, all of the PRC shareholders are private individuals
Source: investor.bg (17.01.2013)

Some 3.1 mln shares of Bulgaria’s Galata Investment Company trade on bourse A total of 3,107,000 shares, equivalent to 3.57% of the share capital of Bulgarian real estate firm Galata Investment Company [BUL:G0A], were traded for 4.8 million levs ($3.3 million/2.4 million euro) on the Sofia bourse on Friday, stock exchange data showed. The shares changed hands in three block deals at an average price of 1.56 levs per share, data from the Bulgarian Stock Exchange indicated. The parties to the deals were not disclosed. Galata Investment Company’s shares were traded 9.3% down from the last close at 1.56 levs by 1334 GMT on Friday on the BSE. Buyer of the Package is Holding Varna AD which already had 15.63 percent of the company.
Source: profit.bg (21.01.2013)

Bulgaria’s Donev Investments Holding has raised its stake in local drug maker Sopharma to 26.78 %. The main shareholder in the company buyer is Sopharma's executive director Ognqn Donev. Donev Investments Holding bought 2,982,666 shares in a deal registered at the country’s Central Depository on Wednesday. At the same time, local Financial Consulting Company has lowered its stake in Sopharma to 9.62%, selling 4,053,002 company shares. A total of 4,063,052 shares, equivalent to a stake of 3.08% in Sopharma, changed hands for BGN 8.3 million on the Bulgarian Stock Exchange on Monday.
Source: Capital (24.01.2013)

Bulgarian tobacco processing plant Sofia-BT said on Thursday that the country's financial regulator has struck it from the register of public companies. The Financial Supervision Commission adopted the decision on January 23, Sofia-BT said in a statement to the Sofia bourse. Local tobacco group Bulgartabac Holding recently acquired the Sofia-BT shares it did not yet own following a buyout bid. Sofia-BT’s share capital consists of 1,216,870 shares. Sofia-BT stock was last traded on the Sofia bourse on January 4, closing flat at 71.7 levs.
Source: investor.bg (25.01.2013)

Majority owners of Bulgaria telco Vivacom make buyout offer The owners of Vivacom on Monday offered to buy out minority shareholders in the Bulgarian telecoms group in a deal that would value the company at about $557 million, Reuters said The offer, published in Capital Daily newspaper, is 2.80 levs per share for a 5.91 percent stake, valuing the group at about 810 million levs ($557 million). Shares in Vivacom, the brand name of Bulgarian Telecommunication Company (BTC) ended at 2.78 levs per share on the Sofia bourse on Friday. Vivacom confirmed the details of the offer, which is valid for a month. The offer marks the latest stage in a restructuring of the telecoms company, which was saddled with huge debts after a 2007 buyout by U.S. insurer AIG, which subsequently sold Vivacom to PineBridge Investments. Late last year, Bulgarian banker Tsvetan Vasilev, through his company Bromak, and Russian bank VTB Bank sealed a 1.7 billion euro restructuring deal with Vivacom creditors. Under this deal, Bromak ended up with about 43.3 percent of the telecoms company, VTB Bank 33.3 percent and a number of banks 17.5 percent. This was after writing off 1 billion euros of debt. The new owners VTB and Bromak pledged to delist the company 18 months after sealing the deal. Vivacom, which has 20 percent of the market in terms of clients, said on Monday its net profit rose almost three-fold to 20.3 million levs last year, mainly due to cost cuts and a rise in revenues from mobile phone services. Vivacom competes with Telekom Austria's Mobitel and Globul, part of Greece's OTE.
Source: econ.bg (30.01.2013)

The Bulgarian financial regulator said it entered local Texim Bank in the country’s register of public companies. The Financial Supervision Commission (FSC) also entered in the register a 27.995 million levs ($19.4 million/14.3 million euro) share issue of the company, FSC said in a statement published on its website on Thursday. Each share has a nominal value of 1.0 lev. Texim Bank’s shareholders plan to list the company’s entire capital on the regulated market of local stock exchange, a protocol of an extraordinary meeting held in September showed. In November, the bank obtained a regulatory clearance to launch an IPO. Texim Bank (www.teximbank.bg) was the smallest bank by assets in Bulgaria at the end of last year, according to central bank data. Twenty-four locally-registered banks and the branches of seven foreign lenders operate in the country.
Source: investor.bg (04.02.2013)

Bulgaria's parliament said in a statement on Thursday that it has lifted the ban on the privatisation of the operator of industrial exhibition halls, International Fair-Plovdiv. Last month the government proposed amendments to the country’s privatization bill that aimed to enable the sale of its stake in International Frair-Plovdiv on the Bulgarian Stock Exchange. At present the state holds 27,921,785 shares or 49.63% of the capital of International Fair-Plovdiv, which means that it cannot participate fully in its management and in the last few years it did not receive a dividend. This is one of the reasons why the amendments were proposed. Another reason is that the listing of the company on the stock exchange would enhance the transparency of its management and would improve the control over its activities form the Financial Supervision Commission.
Source: Dnevnik (08.02.2013)

Bulgarian electrical machines maker Elprom Zem, part of local industrial group Industrial Holding Bulgaria plans to launch a four-year buyback programme, targeting up to 10% of its own capital. The decision will be put to the vote at a shareholders’ meeting scheduled for February 22. The company will aim to repurchase 3.0% of its capital per year at a minimum price of BGN 1.8 and a maximum price of BGN 5.0 per share. At present Elprom Zem has 1 212 705 shares, each with a nominal of BGN 1.
Source: Capital (11.02.2013)

Bulgarian SPV Liam plans liquidation Bulgarian special purpose vehicle (SPV) Liam said on Friday it plans to launch a procedure for its liquidation. The company shareholders will vote on the liquidation proposal at a general meeting scheduled for March 11, Liam said in a bourse filing.
Source: Other (11.02.2013)

Bulgaria’s Texim Bank shares will start trading on the Bulgarian Stock Exchange (BSE) on February 13, the bourse said on Monday. The local lender will be traded on the Standard Equities segment under 5CP code, the BSE said in a statement published on its website. The indicative reference price has been set at 1.2 levs ($0.82/0.61 euro) per share for the first trading session. Texim Bank capital consists of 27,995,036 shares with a par value of 1.0 lev each. The lender got regulatory clearance to launch an initial public offering (IPO) in early November and was entered into the country’s registry of public companies in the beginning of February. Texim Bank (www.teximbank.bg) was the smallest bank by assets in Bulgaria at the end of last year, according to central bank data. Twenty-four locally-registered banks and the branches of seven foreign lenders operate in the country.
Source: Darik Radio (12.02.2013)

CEZ Drops as Bulgaria Threatens to Revoke License: Prague Mover CEZ AS fell for a fourth day after the Bulgarian government said it may revoke the Czech utility’s power-distribution license in the southeast European country. The stock slid 0.5 percent to 616 koruna by 11:03 a.m. in Prague, adding to a 3 percent retreat in the previous three days. CEZ underperformed a 0.1 percent gain for the PX index. Bulgaria will decide in several days whether a finding by a regulator that CEZ violated public-procurement rules is enough to revoke the company’s license, the Sofia-based Energy, Economy and Tourism Ministry said on its website yesterday. CEZ had 9.9 percent of its 2011 revenue from Bulgaria, making it the company’s second-biggest market after the Czech Republic. “The loss of license is equal to the loss of business,” analysts led by Milan Vanicek and J&T Banka AS in Prague wrote in a report to clients today. Separately, Czech police have been inquiring into CEZ business deals, including the 2012 sale of a stake in coal company Mibrag, Barbora Pulpanova, a company spokeswoman, said in e-mailed comments today, confirming a report in the Mlada Fronta Dnes newspaper. CEZ shares have dropped 9.4 percent in 2013, compared with a 3.4 percent decline by the PX index, according to data compiled by Bloomberg. The yield on CEZ’s 2021 Eurobonds fell three basis points today, or 0.03 percentage point, to 2.56 percent, the least since Jan. 25, the data show.
Source: Monitor (19.02.2013)

The Bulgarian Stock Exchange (BSE) said it has suspended from trading the shares of the local units of Czech power utility CEZ and energy group Energo-Pro. Trading in the shares of CEZ Razpredelenie Bulgaria, CEZ Electro Bulgaria, Energo-Pro Grid and Energo-Pro Sales will be suspended for a period of three days, the BSE said in a statement on its website on Tuesday. The decision follows a sharp drop in the companies' shares on Tuesday after Bulgaria's prime minister Boyko Borisov said the country's energy regulator plans to revoke the licence of CEZ’s units following a recent check by the Public Financial Inspection Agency (PFIA). Bulgaria's economy ministry said on Sunday that PFIA will also conduct audits at the units of Energo-Pro and Austrian utility EVN. Tensions escalated in Bulgaria in the last few days due to mass street protests against high electricity prices that led to the resignation of the country’s government on Wednesday. CEZ Razpredelenie Bulgaria and CEZ Electro Bulgaria operate in western Bulgaria, including the capital Sofia, while Energo-Pro's units operate in the north eastern part of the country. Bulgaria, which joined the European Union in 2007, has a population of 7.33 million.
Source: Capital (21.02.2013)

Corporate commercial bank will look for nearly BGN 94 million from investors on the Stock Market, the Financial Supervision Commission decided. The Commission approved of the prospectus for increase of the bank’s capital that envisages issuing of a total of BGN 600 thousand new shares. Each of them is to be sold against emmission price of BGN 156.47, with a nomial of BGN 10. Emmission price will be paid by each investor, who wants to buy new shares. Their subscription rights will be distributed between existing shareholders of CCB. If all shares are subscribed, Corporate commercial bank’s share capital will increase from BGN 60 million to BGN 66 million
Source: Capital (21.02.2013)

Bulgarian ski resort operator Pamporovo plans to raise its capital to 1.61 million levs from the current 1.08 million levs. The company plans to issue 538,050 new shares with a nominal value of 1.0 lev and sell them at a price of 3.0 levs each, Pamporovo said in a statement. The decision will be put to the vote at an extraordinary shareholders’ meeting scheduled for April 3. Pamporovo is one of the major Bulgarian ski resorts together with Bansko and Borovets. The main shareholders in the company are "CSIF" (48.76%) and "Pearl Management" (40.04%). The company is public and its shares are traded on the Bulgarian Stock Exchange
Source: Capital (22.02.2013)

NURTS Bulgaria, which has a license for a multiplex oprator has issued obligations to the amount of EUR 40 million. The company is one of the operators that was granted license for construction of a newtwork for dissemination of digital radio and television broadcasting. At its Friday meeting The Financial Supervision Commission approved of the NURTS Bulgaria’s prospectus whose bonds are to be admitted for trading on the Bulgarian Stock Exchange. The prospectus has not been published and it is unclear for what money from debt will be used and what its conditions are. Based on information from the Commission securities are secured and their face value is EUR 1,000. NURTS Bulgaria is related with the main shareholder in Corporate commercial bank and was a joint venture between BTC and the Cyprus offshore company "Manselor Limited".
Source: Capital (25.02.2013)

Long expected privatization of Bulgarian stock exchange, togheter with the Central depository, may not happen. The Ministry of Finance, which a principal of the two companies decided to end the procedure, as the privatization agency is up to take the final decision. The most probable reason for the postponement is the resignation of the government. The state strategy was focused on finding a strategic investor for the two key institutions that is to help for development of the market and improvement of its transperancy for big international investors. The state considered selling controlling packages in the stock exchange and the depository. The Czech KBC Group - Patria Corporate Finance was chosen for an advisor of the privatization. The assessment was ready and was being negotiated in the middle of February. Yet there’s no public information disclosed. It was expected that the procedure will be started in February and the very sale was envisaged to become a fact towards the end of March or the beginning of April.
Source: Capital (28.02.2013)

The Bulgarian Stock Exchange (BSE) announced on Wednesday changes in the composition of four of its indices, effective from March 18. The bourse will remove from the blue-chip SOFIX index fertiliser producer Neochim and Corporate Commercial Bank and will include resort operator Albena and agribusiness company Zarneni Hrani Bulgaria, the Bulgarian Stock Exchange (BSE) said in a statement. The SOFIX index tracks the 15 most liquid shares on the BSE. Six companies will leave the the broader BG40, which includes the 40 most traded shares. Those are hardboard maker Fazerles, cigarette filters maker Yuri Gagarin, real estate investment trust Aktiv Properties, Bulgarian-American Credit Bank, real estate investment fund Agro Finance and the BSE. They will be replaced by CEZ Razpredelenie Bulgaria, Energo-Pro Sales, Energo-Pro Grid, fuel retailer Petrol, printing and advertising firm Billboard and car battery manufacturer Elhim Iskra. REIT FairPlay Properties will replace Aktiv Properties in the composition of the BG-REIT index, which tracks the performance of real estate investment trusts. The bourse will also remove renewable energy company Energoni, investment company Albena Invest Holding, Doverie United Holding and investment trust Agro Finance from the BG TotalReturn30, in which companies with a free float of at least 10% have equal weight. They will be replaced by diversified company Industrial Capital Holding, Galata Investment Company, Energo-Pro Sales [BUL: 4ES] and ship repairer Odessos. The BSE has one more index – the CGIX Corporate Governance index, which includes companies strictly applying corporate governance principles. The bourse will not make changes to its composition.
Source: investor.bg (07.03.2013)

Aurubus Bulgaria, majoritary owner of Cumerio Austria made a proposition for its smaller shareholders to buy out their shares, which they acquired during the process of privatization. Back in the 90-ies the company held the name MDK Pirdop. Aurubus Bulgaria’s campaign is a positive one, as it gives the chance for every small and not well informed shareholder in a company that is not traded on the bourse to sell its shares. The offer towards the smaller shareholders is to the amount of BGN 30 million and is valid till the 30th of April 2013. The procedure will be carried out by Elana, which is to open temporary investment centers in Pirdop and Zlatitsa. Expenditures for the sale will remain on the account of "Cumerio Austria" - they include brokerage commissions and fees for the issuance of a duplicate of a depository receipt.
Source: Capital (07.03.2013)

Bulgarian tobacco processing plant Pleven-BT said on Tuesday that the country's financial regulator has struck it off from the register of public companies. The Financial Supervision Commission adopted the decision on March 6, acting in response to a request filed by the tobacco-processing plant, Pleven-BT said in a statement to the Sofia bourse. Following a buyout bid at the end of last year, local tobacco group Bulgartabac Holding [BUL:57B] became Pleven-BT's sole owner. Pleven-BT’s share capital consists of 425,168 shares with a par value of 1.0 lev each
Source: money.bg (12.03.2013)

Bulgaria has suspected the contract with Czech company Patria Corporate Finance after decided to abandon the privatization of the bourse. Bulgaria's sale agency picked at the beginning of December Czech company Patria Corporate Finance to act as consultant as the country was looking for an investor for its only stock exchange. The company, which is part of the Belgian group KBC, was preferred to Deloitte Bulgaria and Bulbrokers Consulting. For sale was the government's stakes of just above 50% in the Bulgarian bourse and in the Central Depository, which clears and settles trades and also acts as a register of securities. The selected company was assigned to prepare marketing, legal and financial analysis of both companies, evaluate them and write information memoranda. The consultant had one month to perform its tasks, which means that the preparation of the transaction has already been completed. Bulgaria's Finance Ministry, which holds a 50.0542% stake, suspended the sale procedure at the end of February in the wake of the shocking resignation of the former government, headed by Boyko Borisov, the bourse announced on Thursday.
Source: Dnevnik (15.03.2013)

As to 14th of March 2013 Bulgaria’s fiscal reserves are to the amount of BGN 2.7 billion. BGN 300 million are deposited in commercial banks. That means that there is BGN 3 million available; with set in the budget law requires a minimum of BGN 4.5 billion. As of February 28, however, according to the Bank, the amount in the reserve was to the amount of BGN 3.4 billion. Figures show that in just one week’s time money fell to BGN 713 million. Since fiscal reserve is usually financef by the budget deficit, and it was to the amount of BGN 500 million at the end of January, estimates are that its availability will furtherly fall.
Source: 24 chasa (15.03.2013)

Bulgarian real estate investment trust Advance Terrafund said on Friday it bought 174.6 hectares (ha) of farmland at an average price of 6,760 levs per ha in February. Last month the company also sold 75 ha of farmland at an average price of 12,000 levs per ha, Advance Terrafund said in a statement filed with the Sofia bourse. At the end of February, the REIT’s portfolio consisted of 24,512 hectares of farmland and 13.9 ha of urban land. Blue-chip shares in the REIT traded on the Bulgarian Stock Exchange 0.61% higher at 2.48 levs by 1215 GMT.
Source: investor.bg (15.03.2013)

A total of 596,466 shares, equivalent to 9.94% of the share capital of Bulgaria's Corporate Commercial Bank, traded for some 54.1 million levs on the Sofia bourse on Friday, stock exchange data showed. The shares of Corporate Commercial Bank (Corpbank) changed hands in 21 transactions at an average price of 90.691 levs apiece, data from the Bulgarian Stock Exchange (BSE) indicated. The parties to the deals were not disclosed. Corpbank was up 2.27% at 90 levs by 1436 GMT on the BSE on Friday. Corpbank was the sixth largest bank by assets in Bulgaria at the end of January, according to central bank data. Twenty-four locally-registered banks and the branches of seven foreign lenders operate in the country.
Source: Capital (25.03.2013)

The profit of the Bulgarian Stock Exchange - Sofia for 2012 amounted to BGN 603 thousand Bulgarian Stock Exchange - Sofia JSC reported a profit at the end of 2012 amounting to BGN 603 thousand. The total revenues of the company are BGN 3,327 thousand, which is 10.97% more than in the previous period. The total cost declined by 0.45% from the previous period to BGN 2,657 thousand. Net sales for 2012 amounted to BGN 2,972 thousand and represent 89.33% of the total revenue. Compared to the same period in 2011 they increased by 12.19%. As of 31 December 2012 the company reported earnings per share of BGN 0.09, according to the annual audited Balance Sheet/Statement of the company for 2012. The equity of the company at the end of the year was BGN 10,748 thousand, up by 4.53% compared to the same period of 2011.
Source: money.bg (28.03.2013)

Caribbean-registered company Dewa International Ltd has bought some 9.9% of Bulgaria’s Corporate Commercial Bank. The transaction, with a total value of some BGN 54.4 million, was registered at the country’s central depository on March 26. The seller was Bulgaria’s Technology Centre-Institute of Microelectronics. A total of 596,466 shares, representing 9.94% of the share capital of Corpbank, were traded for a similar amount on the Sofia bourse on March 22. Corpbank was the fifth largest bank by assets in Bulgaria at the end of February, according to central bank data. In the last few years Bromac's share in the capital of Corporate Commercial bank has decreased form 60% to slightly over 50%. In that way nearly 10% of shares, assessed to BGN 40-60 million were transferred from the bank to related companies as "Julita 2002", "CD Management", "Correct Farm", "Areskom" "Dival 59," "Bullitt 2007", "Print Invest 1", "Transtreyding" and others.
Source: Capital (02.04.2013)

The operator of the Bulgarian Stock Exchange (BSE) said it plans to pay BGN 0.733 per share in 2012 dividend. BSE paid a dividend of BGN 0.048 per share for 2011. The bourse operator plans to distribute as dividend a total of BGN 482,544, or 80% of its 2012 net profit, and retain the remaining 20%. The proposal will be put to the vote at a general shareholders’ meeting scheduled for May 9.
Source: Company information (11.04.2013)

Bulgarian provider of express delivery services Speedy [BUL:0SP] said it plans to pay a gross dividend of 2.98 levs ($1.99/1.5 euro) per share for 2012. The company plans to distribute as dividend a total of 4.42 million levs from its 2012 profit equal to 7.38 million levs, Speedy said in a bourse filing late on Wednesday. Some 100,683 levs are planned to be allocated to reserves and some 2.96 million levs will go for a cap hike. The proposals will be voted on at a general shareholders’ meeting scheduled for May 17. Speedy (www.speedy.bg) operates a fleet of 500 delivery vehicles, six sorting centres and 64 domestic offices as well as one office each in Bucharest and Thessaloniki. The company started trading on the Sofia bourse in November 2012, following a secondary public offering. Speedy’s shares last traded on March 26, closing 0.37% down to 53.6 levs in a volume of 2,412.
Source: profit.bg (12.04.2013)

Lavena AD is to look for BGN 2.67 million from the market. If the increase of capital is successful it is to grow from BGN 200 thousand to BGN 266 667. Trade with rights that allow participation in the capital increase will be launched on April 23, 2013. He deadline for trade on the stock exhange is the 30th of April. The increase of capital will be made via BenchMarck Finance AD
Source: profit.bg (15.04.2013)

Tie-up led by Bulgaria’s Trace Group to build 4.9 mln euro landfill Bulgarian construction company Trace Group Hold [BUL:T57] said on Thursday it signed a 9.64 million levs ($6.43 million/4.93 million euro) contract for construction works on a landfill in the municipality of Pernik, in the west of the country. The project, which is financed under EU-funded operational programme Environment, will be carried out by a tie-up comprising Trace Group Holding and Cordeel Bulgaria, a unit of Belgium construction company Cordeel Invest, the Bulgarian holding company said in a statement filed with the Sofia bourse. Construction works have to be completed within nine months. Trace-Cordeel-Pernik will build the first of four cells of the landfill, a reception area and the adjacent technical infrastructure.
Source: investor.bg (19.04.2013)

Russian VTB Bank Buys 10% Stake from Bulgarian Corpbank VTB Capital, the investment business of VTB group, the second largest Russian bank has acquired 9.9% of the capital of Bulgarian lender Corporate Commercial Bank from Dewa International Limited. The sides have sealed contracts for put and call options for the shares acquired by VTB Capital, to be applied no later than three years after the deal. Corporate Commercial Bank, CCB, is the fifth largest bank in Bulgaria, listed on the Bulgarian Stock Exchange. Corpbank manages 48% of the monies parked by state-controlled enterprises and 95% of the deposits of the energy holding, which adds up to more than BGN 76 M. VTB Capital opened its office in Bulgaria in March 2012.
Source: Dnevnik (22.04.2013)

Television and radio broadcaster Bulgaria on Air said on Monday it bought the controlling stake in Bulgarian Internet media company Investor.bg [BUL:4IN]. Earlier on Monday a total of 1,280,229 shares, equivalent to a stake of 88.99% in Investor.bg, traded for some 16 million levs ($10.7 million/8.2 million euro) on the Sofia bourse. Bulgaria on Air plans to place a buyout bid for the remaining stake in Investor.bg, the company said on its website. In an interview posted on the website of Bulgaria on Air, the company's executive director Viktoria Mitkova said that whether Investor.bg will be delisted or not will depend on how the financial crisis evolves. Mitkova added that changes will be made to Investor.bg’s board of directors. Investor.bg's shares were trading 8.7% higher at 12.5 levs by 1350 CET.
Source: Capital (23.04.2013)

Bulgaria’s Corporate Commercial Bank [BUL:6C9] said on Monday it has sold its 3.22% stake in local tobacco group Bulgartabac Holding. In a transaction registered with Bulgaria’s central depository on April 29 Corporate Commercial Bank sold 237,247 Bulgartabac shares, the bank said in a bourse filing. Exactly 237,247 Bulgartabac shares were traded for 21.4 million levs on the Sofia bourse on Thursday.
Source: investor.bg (30.04.2013)

Bulgartabac tops K50 public companies in Bulgaria. Second is the longtime leader until recently - pharmaceutical company Sopharma. This is the seventh consecutive ranking, which is the successor of Dnevnik 100. This year, companies are grouped in one rang and are only 50. In previous editions they were divided into small and large according to capitalization and only then ranked. A positive event, which may be remembered from last year, is the privatization of the state minority stakes in CEZ and Energy pro (formerly E.ON) at the Bulgarian Stock Exchange. Generally the top places are taken mostly by familiar names that have held them in recent years - Monbat , Himimport , EuroHold Bulgaria.
Source: Capital (07.05.2013)

Dir.BG is to make second attempt for increase of its capital though the stock exchange. The Internet Company plans to issue nearly 1.53 million of new shares, with which it can raise nearly BGN 3 million from current and new investors if all securities are subscribed. The previous offering was successful in 13% - such part of the planned revenues was collected and the company adopted a public status. It is still unclear, though for what is to be used the raised in that way capital. The prospectus of Dir.BG was approved of on the 25th of April by the Financial Supervision Commission. A single share will be offered fot BGN 1.91 with a nominal of BGN 1.
Source: Capital (09.05.2013)

Owners of Bulgartabac holding are to cover significant part of the sum they paid for privatization of the company. This is to become through payment of dividend. On the annual general meeting, which took place on the 21st of May all that were present approved of the proposition the company’s reported profit to the amount of nearly BGN 70 million and part of the company’s reserves to be distributed between shareholders. This makes BGN 9.46 per share, which means that the majority owner BT invest will get a sum of BGN 55.65 million. The rest shares are owned by different natural and legal entities, among which is Corporate commercial bank. Officially Austian company BT invest bought the major share in the tobacco holding in 2011 for a sum of EUR 100.1 million, or BGN 200 million. The deal consisted of a secured partnership between owners of Vinprom Peshtera and the owner of Corporate commercial bank. After the privatization, several companies from the Bukgartabac - Blagoevgrad BT, Sofia BT and Pleven BT were removed from the stock exchange.
Source: Capital (23.05.2013)

Svinecomplex Nikolovo has a new owner Located near Rousse Svinecomplex Nikolovo has a new owner. Luxembourg-registered Westpark Financial Group bought 96.4% of the company’s capital by its current owners Laudis International and KNT, as the latter held 10.4%. The deal was concluded on the 22nd of May. The price was not disclosed. The new owner is described as a foreign financial investor. Because of the owner’s offshore structure it is not known who the real owner is. Plans of the new owner are to buy agricultural land in the next 24 months in order to build a forage warehouse and installation for generation of power by biomass. This is to be part of the complex’overall project for power efficiency. Total amount of the investment is assessed to over EUR 10 million. The idea is building of a completely closed production cycle-from cultivation of crops for feed to fattening pigs for sausage production and use of biomass from animals for energy. The second stage of the investment envisages tripling the production capacity of the pig farm.
Source: Capital (28.05.2013)

Financial supervision requires Petrol to invalidate 42% of its capital Financial Supervision Commission wants from Petrol holding to reduce its capital via cancellation of 45.719 million shares acquired by its subsidiary Naftex Petrol. The reason for this coercive administrative measure by the supervision is that the one-year period has expired for transfer of shares pursuant to Art. 187 of the Commercial Code and concequently Petrol’s General Meeting of Shareholders should decide to reduce its share capital by cancellation thereof. By law the subsidiary may buy out shares of its mother company, but within a year it has to transfer them to a third entity. Because of the fact that Naftex has not taken these steps the supervision wants cancellation. In this case 45.719 shares in question represent 41.85% of Petrol’s capital.
Source: Capital (29.05.2013)

The majority stake in Kaolin went on the Bulgarian Stock Exchange Over 40,261,827 shares of Kaolin constituting 80.5% of the share capital of the company changed hands on the Bulgarian Stock Exchange (BSE) at 12:01 pm yesterday. At 12:25 on the position turnover stood at 167.32 million levs. Total of 33,609,640 shares traded that meet less than 67% of the capital of the company, passed in a single transaction at a price of 4,156 lev per share. The company's shares rose 2.62% to 4.15 levs, after the session started at a price of 4.05 levs per share. Let us recall that on 27 May 2013 from Kaolin announced that in connection with the contract signed between "Alfa Finance Holding" JSC and Quarzwerke GmbH, Germany, has a price per share amounted to 4,156 lev. The communication further said that in the next five days it is expected to be sold all owned by "Alfa Finance Holding" JSC shares of Kaolin. On Monday (May 27) the share price of Kaolin jumped more than 7% to 3.98 lev per share, and then 3,369,850 shares of the company changed hands. We recall also that of 21 December 2012 it became clear that a contract for sale of a majority stake in the company (67.32%) was signed. The buyer Quarzwerke GmbH is Europe's leading company for industrial minerals.
Source: profit.bg (03.06.2013)

Germany's Quarzwerke surpasses 90% in Bulgaria's Kaolin Germany’s minerals extracting and processing company Quarzwerke raised its majority stake in its Bulgarian peer Kaolin to 90.12 %, paving the way for the delisting of the company, Kaolin said on Monday. The transaction was completed on the Sofia Stock Exchange on Friday, when Quarzwerke bought 1,500,000 shares, equivalent to 3% of Kaolin’s equity, Kaolin said in a statement to the Bulgarian Stock Exchange (BSE). The deal was registered in the country’s central depository on June 7, just three days after the German company bought a 80.52% stake in Kaolin. Quarzwerke is expected to make a tender offer to acquire at least 95% in Kaolin, which will allow it to make the company private. Kaolin last traded on the BSE at 4.081 levs ($2.7652/2.0926euro), 0,147% lower, recording a volume of of 18,344 shares by 1506 CET.
Source: investor.bg (11.06.2013)

A new insurance company will appear at the Bulgarian market in near future. This is to happen, if the Financial Supervision Commission gives license to a company under the name of Asset insurance. Statutory capital of the new company is to the amount of BGN 10.5 million. Shareholders in the new insurance company are three companies. All of them are public and are traded on the Bulgarian stock exchange. Founders of Asset insurance are as follows: Stara planina hold AD, its subsidiary Hydraulic Elements and Systems AD, as well as TK HOLD. If Asset Insurance is granted permission by the commission to develop activity in the country, this is to be the nineteenth player on the general insurance market in Bulgaria.
Source: Standart (14.06.2013)

Bulgaria on air offers BGN 12.5 for the rest of Investor.bg’s shares Bulgaria on air made a tender proposition for the rest of the shares in Investor.bg at a price of BGN 12.50 per share. Related to Chimimport’s owners media company Bulgaria on air, which owes directly 49% of the capital (750 thousand shares) deposited tender offer back on the 22nd of April in the Financial Supervision Commission. Papers were returned due to remarks on calculation of the price. Last week FSC said it won’t impose final ban, which actually means that it authorizes with silent agreement. Broker in the tender is Central cooperative bank, as the term for acceptance is set in 28 days after publication. On the 22nd of April media company Bulgaria on air acquired 88.5% of Investor.bg’s shares in return of BGN 16 million.
Source: Capital (18.06.2013)

Bulgarian American Credit Bank (BACB) is planning to buy several real estates in Sofia and Burgas against a total of BGN 23.93 million from its own REIT. The bank will hold a general meeting of shareholders. The seller is Imoti Direct REIT. Silvia Kirilova, member of the Management Board of BACB, explained that the bank will manage the real estates more efficiently. BACB could offer various and alternative ways of financing the real estate price in case of eventual sale – deferred payment, crediting, leasing. The loss of Imoti Direct REIT amounts to BGN 877,000 for 2012.
Source: Capital (19.06.2013)

Real Bulland is to seek money for investment in land The new fund for properties Real Bulland, founded by the ex-managers of Bulland investment are planning to look for BGN 4.65 million from the stock exchange. The money is to be collected through capital increase, by which the company is to be listed on the stock exchange. Money is to be used for investment in agricultural land. By now the company has bought 196 acres in Stara Zagora region, as well as other 52 acres in Varna region. Average price for purchase of land is BGN 201. Total number of plots is 49, while their average area is slightly above 5 acres. Real Bulland is buying land, which it plans to lease similarly to the special purpose vehicles (SPV). The founders, however, opted for another legal form – a usual stock company
Source: Capital (19.06.2013)

Public offering of shares of issuer Dir.bg, Jsc. is unsuccessful, the company reported. Subscription ended on 24 June, as not a single one of the proposed 1.538 million shares was subscribed and paid, something that happens for the first time on the Bulgarian Stock Exchange. Three of the proposed 4.615 million rights entitled to subscribe for 1 new share at BGN 1.91 issue price. Dir.bg expected to raise BGN 2.94 million. The internet company is listed on the Bulgarian Stock Exchange in early 2012 and gained only BGN 202 thousand from the expected nearly BGN 1.5 million. For the first quarter of 2013, the company has BGN 468 thousand income and a loss of BGN 26 thousand. A year earlier, net sales of the internet company were BGN 566 thousand and the loss – BGN 147 thousand.
Source: profit.bg (28.06.2013)

Bulgarian drug maker Sopharma said on Thursday it bought back 11,210 of its shares for a total 35,719 levs between June 20 and 26. The repurchased equity represents a 0.008% stake in the company. The company paid 3.19 levs per share on average. Sopharma has already bought back 4.4 million own shares, representing 3.34% of its equity.
Source: profit.bg (28.06.2013)

The following decision has been adopted at a session of the Board of Directors of BSE-Sofia held as per Record of Proceedings No. 31 of June 28, 2013: With reference to a Resolution passed by the FSC under No. 440-Å of June 20, 2013 regarding the entry of a subsequent issue of shares of Sopharma Properties REIT into the Register of Public Companies and Other Securities Issuers under Art. 30 (1), item 3 of the FSCA, the Board of Directors of BSE-Sofia, on the grounds of Art. 31 (8) in connection with Art. 18 of Part III Listing Rules, admits to trading a subsequent issue of shares on the Standard Equities Segment of the BSE Main Market, as follows: - Issuer: CB Corporate Commercial Bank AD-Sofia (6C9); - Issue's ISIN code: BG1100129052; - Issue's amount prior to the increase: BGN 60,000,000; - Amount of the increase: BGN 5,517,310; - Issue's amount following the increase: BGN 65,517,310; - Number of shares following the increase: 6,551,731; - Par value per share: BGN 10.00 /ten Bulgarian levs/; - Type of shares: common, registered, dematerialised and voting; - Date of entry into trade: July 02, 2013 /Tuesday/. The following decision has been adopted at a session of the Board of Directors of BSE-Sofia held under Record of Proceedings No. 31 of 28 June 2013: With reference to an application submitted under Art. 19 (3) of Part III Listing Rules, the Board of Directors of BSE–Sofia, on the grounds of Art. 31 (8) thereof, amends the parameters of an issue of bonds admitted to trading on the Bonds Segment of the BSE Main Market, as follows: - Issuer: Euroleasing EAD-Plovdiv (E4LA); - Issue's ISIN code: BG2100025076; - Maturity date: 24 September 2015; - Interest rate within the extended term of the issue: 3-month EURIBOR+ 600 base points but not less than 9% per annum - Loan's repayment: through amortisation; - The dates and amounts of the principal (amortisation) payments are amended as follows: 1. Four (4) principal payments each amounting to EUR 30,000 on the following dates: 24 March 2014 - EUR 30,000; 24 June 2014 - EUR 30,000; 24 September 2014 - EUR 30,000; 24 December 2014 - EUR 30,000; 24 March 2015 - EUR 80,000; 24 June 2015 - EUR 80,000; 24 September 2015 - EUR 100,000 - Dates of the interest payments within the extended period: 24 June 2013; 24 September 2013; 24 December 2013; 24 March 2014; 24 June 2014; 24 September 2014; 24 December 2014; 24 March 2015; 24 June 2015; 24 September 2015. - Date of registering the amendments to the issue's parameters and resume of the trade in the issue: 01 July 2013
Source: Company information (01.07.2013)

Capman Green Energy Fund AD-Sofia (C4P) Due to lack of a quorum, the GMS convened by Capman Green Energy Fund AD-Sofia (C4P) on 28 June 2013 has not been held. Thereby, the GMS is to be held on 16 July 2013 at 11:00 a.m. at the same place and under the same agenda. The voting right will be entitled to all shareholders registered with Central Depository fourteen (14) days prior to the GMS; i.e. by 02 July 2013 (Record Date). The final date for transacting shares of this company on the floor of BSE-Sofia, as a result of which the holder will be entitled to exercise their voting right at the GMS, has been 28 June 2013 (Ex Date: 01 July 2013).
Source: Company information (01.07.2013)

Lomsko Beer takes the place of Mecom in the composition of BG40 At the meeting of Board of directors of BSE a decision to change composition of the stock exchange index BG40 was taken. Pursuant to 16, paragraph 4, Article 21 and Article 22 § 3 of the rules for calculating the indices of BSE, share issues of Mecom AD Silistra, ISIN code: BG1100095071, ticker MKX, is excluded from the basis of BG40. In its place and pursuant to Article 16, paragraph 4, Article 23 and Article 24 of the rules for calculating the indices of BSE, the issue shares of Lomsko Beer - Lom, ISIN: BG1100043071, ticker 6L1, is added to the base of BG40.
Source: money.bg (04.07.2013)

BSE-Sofia has received an application for revocation of a transaction of 80 shares of Aroma Cosmetics AD-Sofia (ACZ), executed on 09 July 2013 at a price of BGN 6.30 per share, due to a technical mistake omitted by an investment intermediary.
Source: Company information (10.07.2013)

Bulgaria’s Drujba Glassworks to distribute 6.7 mln euro in 2012 dividend Drujba Glassworks, the Bulgarian unit of Greek glassware and bottle maker Yioula, said on Tuesday it will distribute in dividend a total of 13.1 million levs ($8.6 million/6.7 million euro), or 70% of its 2012 net profit. The shareholders approved today to pay out 0.24 levs per share as gross dividend for 2012, Drujba Glassworks said in a bourse filing. By comparison, the company paid out 0.22 levs per share in 2011 dividend, or a total of 11.8 million levs, allocating the remaining 7.9 million levs to retained earnings. Drujba Glassworks, a leading producer of glass bottles and jars for Bulgaria and the region has two production units, one each in Sofia and the southern city of Plovdiv.
Source: investor.bg (10.07.2013)

State construction company Montagi for which several moths ago unsuccessful privatization procedure was attempted, has accumulated significant debts towards its employees and the National revenues agency. In order to cover them the company has announced its property for sale. A hospice of the company, located in the neighbourhood of Drujba is announced for sale with an initial price of BGN 1.417 million. The money is to cover retarded salaries, taxes and social insurance. Debts for the National revenues agency are to the amount of nearly BGN 1.853 million, as they consist of delayed taxes, insurance, including that for health from 2011, 2012, while certain obligations are being accumulated since 2005. Delayed salaries are assessed at about BGN 30 thousand. At present Montagi is part of State Consolidation Company, where it was apported with the aim of sale. The last third attempt for privatisation of the company ended unsuccessfully in the end of last year. The sole candidate back then was AT Engineering 2000 which didn’t hand out a binding offer. Initially the state tries to sell the construction company via the stock exchange with an initial price of BGN 70 million.
Source: Capital (18.07.2013)

BTC says farewell to BSE After nine years as a public company BTC is about to end it. A buyout of all the shares outside the new majority owner is already running. Once the procedure is completed, he will own 100% of the shares of the company and the mere existence of the preferential share of the state will stop delisting of the company from the register of companies. However, shares will be not traded on the exchange. This is clear from the notice of the buyout of all the shares out of the package held by the new owner of BTC - Viva Telecom Bulgaria. Voluntary buyout of the remaining number of securities outside the majority owner has already been published, which the Financial Supervision Commission approved last week. It shows that after the mandatory tender offer, Viva Telecom Bulgaria now owns 99.74% of the ordinary shares of BTC and is willing to purchase the remaining 0.26% at a price of BGN 2,806 per share. Based on this buying, all minority shareholders will be required to sell their shares to Viva Telecom Bulgaria within a month.
Source: Capital (18.07.2013)

The cabinet hides data on public deposits again Although PM Plamen Oresharski pledged that ministries should observe the rules for selection of financial institutions, which will hold state company funds, most ministries did not publish data on the concentration of their companies’ money, Capital Daily reports. The Ministry of Agriculture was the only ministry that published a report about its activities on its website. After Capital Daily questioned the ministries about their activities, the Ministries of Economy and Transport also published their reports. These two ministries hold most of their funds in the Corporate Commercial Bank, which is controlled by Tsvetan Vasilev. Data published in May confirmed unofficial information that the bulk of state company funds were concentrated in just a few banks. The first one was the Corporate Commercial Bank, where 18 public companies had deposited their money, including the Bulgarian Energy Holding (BEH). Second was the Central Cooperative Bank, which was the favourite bank of 15 public company managers. However, according to the data published now, none of the public companies related to the Ministry of Finance exceeds the 25% barrier. Three months ago, the money of the Bulgarian Stock Exchange was held mainly by Postbank and the Corporate Commercial Bank, while now it is deposited in six banks. However, companies related to the Ministry of Agriculture and the Ministry of Regional Development are still holding their money mainly in D Commerce Bank and the Central Cooperative Bank respectively.
Source: Capital (01.08.2013)

Bulgarian bourse joins FTSE Mondo Visione Exchanges Index The Bulgarian Stock Exchange - Sofia was added to the FTSE Mondo Visione Exchanges Index, the bourse said on Tuesday. The FTSE Mondo Visione Exchanges Index is a joint venture between FTSE Group, the global index group, and Mondo Visione, and is calculated since 2000, the Bulgarian Stock Exchange said in a press release. It is the first index in the world to focus on listed exchanges and other trading venues.
Source: expert.bg (07.08.2013)

Elana agrocredit is to fund agricultural producers A new company of Elana holding for lending to agricultural producers is soon to start operation. In September it is expected to be listed on the Bulgarian Stock exchange. Elana agrocredit was granted a licence for a non-banking loan institution by Bulgarian national bank several months ago. In the beginning of July Financial Supervision Commission approved its prospectus for the initial public offering of shares. Initially the company is to seek from investors on the stock exchange BGN 15 million. The company’s CEO Kamen Kolchev explained that the company’s business plan envisages attracting of loan funds in future. Elana agrocredit thinks of offering leasing of agricultural land, loans for machineries, preparations, construction of warehouses and silos, as well as for watering equipment. At first though the company is to offer mainly leasing of land- it is providing credit to farmers with which to they may buy land which becomes theirs after repayment.
Source: Capital (15.08.2013)

Enårgo-Pro Grid AD-Varna (2EG) BSE-Sofia has received the materials of the appointed extraordinary General Meeting of Shareholders of Enårgo-Pro Grid AD-Varna (2EG) as follows: Enårgo-Pro Grid AD-Varna (2EG) has appointed a General Meeting of the Shareholders on 23 September 2013 at 10:00 a.m. in the city of Varna, at 258 Vladislav Varnenchik Blvd., Varna Towers, Ã Tower, hall 406, under the following agenda: - Authorisation of the Managing Board of the Company to sign an overdraft credit contract with interested persons; - Authorisation of the Managing Board of the Company to sign a cession contract with interested persons or alternatively to sign contracts on assumption of debt with interested persons; - In the absence of a quorum, the GMS will be held on 08 October 2013 at 10:00 a.m., at the same place and under the same agenda. The voting right will be entitled to all shareholders registered with the Central Depository 14 days before the GMS i.e. by 09 September 2013 (Record Date). The final date for transacting shares of this company on the floor of BSE-Sofia, as a result of which the holder will be entitled to exercise their voting right at the GMS, will be 04 September 2013 (Ex Date: 05 September 2013).
Source: Banker (20.08.2013)

Kaolin is probably to be deslisted from the stock exchange Extraction Company Kaolin most probably will be delisted from the Bulgarian stock exchange. This became clear from a tender offer, published yesterday. The new majority owner of the company- German Quarzwerke offers to buy the share of the small shareholders against BGN 4.156 per share. At present Quarzwerke owns 95.45% of Kaolin’s capital. The German company bought controlling package of shares in Kaolin in the beginning of June, after that it acquired still more stocks via the BSE. Till then major owner in the extraction company was Alfa finance holding. The decision for delisting is made by the mother company and thus Kaolin is still another public company, which goes out of the Bulgarian stock exchange after a change in ownership
Source: Capital (20.08.2013)

Inactive company seeks to collect BGN 50 million on the stock exchange to invest in RES BGI Group, a public company that has so far demonstrated weak performance on the BSE, intends to collect BGN 50 million, the main part of which to invest in renewable energy sources, Nikolay Meister, Executive Director of BGI Group, said. BGI Group is virtually inactive – it has received no income for the first half of the year, while it has only made expenses on salaries and outsourcing. It has no income for the previous year as well, its audit report shows. Mr Meister commented that the network access fee that renewable energy power plants had to pay, even though temporary as the court already abolished it, has affected the cost of projects. In his words banks are also willing to credit selected renewable energy projects, Capital Daily reports.
Source: Capital (20.08.2013)

BTC owner wants the state to forfeit its golden share The state might lose its golden share in the Bulgarian Telecommunications Company (BTC), while BTC’s owner might delist the company from the BSE – Sofia. These are some of the plans of the private owner – Viva Telecom Bulgaria, it transpired from an announcement of the company to the BSE. An extraordinary general meeting of Viva Telecom Bulgaria shareholders will take place on September 16. Viva Telecom Bulgaria holds 99.72% of BTC's capital. It is connected to VTB Capital and Corporate Commercial Bank of famous Bulgarian businessman Tsvetan Vasilev.
Source: Sega (20.08.2013)

Arteks Engineering AD-Sofia (A84A) BSE-Sofia has received a Report under Art. 100g (1), item 3 of the POSA as at 30 June 2013 submitted by United Bulgarian Bank AD in the latter's capacity of a trustee of the bondholders under the issue of bonds of Arteks Engineering AD-Sofia (A84A), ISIN Code: BG2100016083.
Source: Banker (30.08.2013)

Florina has a new owner Two years after juice producer Florina was acquired by Bulgarian holding WM finance group it seems that the company is again in a special situation. This is evident from its new owner-a registered in the British island Guernsey New Europe Special Situations Limited. WM finance group sold 100% of its shares of Balkan Beverages Company to the British company. Yet it is not clear if it’s a question of a sale or of an inner reorganization. On the other hand sales of Balkan Beverages Company are falling and the company is accumulating more losses. Losses are assessed at BGN 2.4 million, as compared to BGN 1.8 million a year later. Difficulties with financial results were indeed the reason for its sale to WM finance group in the beginning of 2011. Currently Balkan Beverages Company is dealing with production of juices, nectars and soft drinks. It has about 11% market share in the country
Source: Capital (09.09.2013)

Rompharm acquired a share in Sopharma The most active buyer lately-Rompharm company concluded its successive deal for millions. After it acquired two huge portfolios with agricultural land, the little-known group has made a portfolio investment in the biggest pharmaceutical company on the Stock exchange in Sofia-Sopharma. It has bought the share of Lyubomir Pavlov and already has a 13.5% share in Sopharma in a deal for BGN 36 million. The purchase sets the beginning of a new investment phase for Rompharm. The deal may be defined as a new line for Sopharma, too. The purchase of Rompharm comes at a time in which the shares of Sopharma began to recover partially their lost value last in nearly three years. Since the beginning of the year, shares of the company have risen by 38% on the Bulgarian Stock Exchange
Source: Capital (10.09.2013)

Swedbank clients raise stake in Bulgaria's Energoni to 10.67% Unnamed clients of Sweden-based Swedbank acquired a further 9.0% in Bulgarian renewable energy company Energoni, raising their combined stake in the company to 10.67%, Bulgarian media reported on Tuesday. The seller is businessman Mihail Georgopapadakos who, following the transaction, owns 18.29% of Energoni, business portal Investor.bg reported, quoting data from the country's Central Depository. On September 5, shares equal to a 10.7% stake in Energoni traded in a series of OTC deals at a price of 0.05 - 0.1 levs (0.0256 - 0.0511 euro /$0.0339 - 0.0678) per share, the news portal added. Energoni is one of the most liquid companies on the Bulgaria bourse. Over the past year company shares worth a total of 1.0 million levs changed hands in some 800 deals, as their share price sank 99.69% to 0.004 lev.
Source: Capital (10.09.2013)

Holding COOP South will seek more than BGN 3 million from the stock exchange Public company holding COOP south will look for over BGN 3 million from investors via capital increase. General meeting of shareholders is appointed for the 18th of October, when the proposition will be discussed. The capital of the company will be increased to BGN 6.14 million via issuing of new shares. Amendments in the company’s statute are envisaged, too. It says that the company may increase its capital to BGN 100 million with a decision of the Board of directors. It is to be valid in five years’ time after statute’s amendment. Shareholders in Holding COOP south are: Central Cooperative Union Coop with an 8% share, New Coop Invest with a 9.85% share, as well as physical entities. The holding has four subsidiaries: Coop South Commerce, Coop group, Coop Investment and Bulgafrost.
Source: Capital (11.09.2013)

Bulgaria’s Elana Agrocredit to launch IPO on Sept 11 Bulgarian agriculture land leasing company Elana Agrocredit will launch an initial public offering (IPO) on the Bulgarian bourse on September 11, aiming to raise at least 2.0 million levs ($1.4 million/1.0 million euro) to finance its core business, it said on Tuesday. The company will offer investors 15 million new ordinary registered shares, Elana Agrocredit said in a press release. The shares will have a par value and issue price of 1.0 levs each. Subscription for the issue will close on October 10. The shares will start trading on the Bulgaria Stock Exchange at the end of November.(áëèö)
Source: Other (11.09.2013)

Just a single amendment will be made among components of the oldest index in Bulgaria-SOFIX. As of 23rd of September Kaolin AD will be replaced by Neochim. There are seven changes, envisaged for BG40.The index will stop functioning in its well-known way. Bulgarian Stock Exchange will start calculation of an entirely new indicator, based on market capitalization, corrects by free-float of included emissions. Leaving companies are Lead and Zinc Complex, Elchim Iskra, Lomsko Beer, Sparky-Eltos, Billboard, Petrol holding, Energo-Pro Sales. They are to be replaced by Sopharma Properties REIT, Bulgarian Rose-Sevtopolis, Yuri Gagarin, Toplivo, Fazerles.
Source: profit.bg (12.09.2013)

Subsidiary company of the Albena resort – Intersky, which is the owner of the airport in Lesnovo, plans to raise BGN 3 million through public offering of shares. The prospectus for the capital increase was approved at the last meeting of the Financial Supervision Commission. It is not clear whether the company will seek outside investors, or Albena intends to take the entire increase. Probably the raised amount, or at least much of it, will be used to increase the capacity of the site near the town of Elin Pelin. In March, the Executive Director of Albena Krasimir Stanev said they plan to increase the capacity of their two airports - in Primorsko and Lesnovo. According to the reports and the website of Lesnovo, the company is also an operator of the eponymous site for airplanes, and intentions are for Primorsko Club, also a subsidiary of Albena, to be the investor in the seaside airport.
Source: Capital (16.09.2013)

Bulgarian Stock Exchange-Sofia (BSO) Bulgarian Stock Exchange-Sofia (BSE, the Exchange) hereby notifies of the following: Pursuant to Art. 45c of Ordinance ¹ 8 of the Financial Supervision Commission of November 12, 2003 about the Central Depository (Ordinance ¹ 8) in connection with § 59 of the Transitional and Final Provisions of the Ordinance amending and supplementing Ordinance ¹ 8 (State Gazette, issue 24/2013) and in relation to the fulfilment of the requirements of the aforementioned regulations for the establishment of a Settlement Guarantee Fund with the Central Depository, including the use of funds raised in the Guarantee Fund under Art. 24 et seq. of Part VI of the Rules and Regulations of Bulgarian Stock Exchange, at the beginning of October 2013 the existing Guarantee Fund with the Exchange is to be terminated and the funds are to be transferred to the new Settlement Guarantee Fund with the Central Depository.
Source: Company information (25.09.2013)

Bulgarian Development Bank (BDB) has new management At the meeting of 11th of September 2013 the Governing Council (GC) of the institution decides Dimo Evgeniev Spasov to be elected Chairman of the bank, and Bilian Luybomirov Balev Deputy-Chairman of the Board. It was decided also Spasov to become the new CEO of the bank a statement of the Commercial Register is showing. The register of the Bulgarian Stock Exchange (BSE ) - Sofia entered besides other changes in the governing bodies of BDB . Hristo Karamfilov and Eliya Karanikolov are no longer members of the Governing Council. While Dimo Spasov and Bilian Balev registered as new members of the Board , announced the exchange operator . As of September 23, 2013 Bulgarian Development Bank is represented jointly by two executives: Dimo Spassov and Bilian Balev , reported from BSE. The current composition of the Board of the Bank Dimo Spasov, Bilian Balev and Asen Yagodin . Yagodin was the former CEO. No changes in the Supervisory Board. The institution confirmed for Econ.bg information. Two days ago it became clear that Fitch has confirmed the long-term rating of the bank to BBB-, and short of F3, the outlook is stable. As of June 30, 2013 the bank reported 14.8 million levs net profit compared with 11.7 million levs in the first half of 2012, writes in the interim financial statements of the BDB. Bulgarian Development Bank was founded in 1999 as the Development Bank. In April 2008, the name was changed in the Bulgarian Development Bank, with the adoption of a special law by the National Assembly of the Republic of Bulgaria.
Source: econ.bg (25.09.2013)

Germany’s Quarzwerke launches squeeze-out at Bulgaria's Kaolin German minerals extracting and processing company Quarzwerke launched a squeeze-out offer for 1.92% of Bulgarian peer Kaolin at a price of BGn 4.156 per share, Kaolin said on Wednesday. Quarzwerke seeks to buy the 958,826 shares it does not own yet at a price identical to the one it paid for its current holdings. Quarzwerke bought some 87% of Kaolin from Bulgaria's Alfa Finance Holding in May 2013. Later, it increased its stake in the company. Quarzwerke has a stake of over 98% in Kaoiln AD. Thus it has to acquire 1,92% equal to 958 826 shares.
Source: investor.bg (26.09.2013)

The Bulgarian municipality of Balchic will make a second attempt to sell its 7.46% stake in resort operator Albena JSC through a tender offer. The municipal council has decided to look for a financial intermediary for the transaction. The stake comprises 304,570 voting shares with a face value of BGN 1. The proceeds from the sale will be used for the repayment of a bank loan and co-financing of EU-funded programs. Balchik tried to sell its stake in Albena in 2012 but its offer failed to attract investor interest. The municipality received dividends from Albena for 2010 and 2011 but is still awaiting its reward for 2012, mayor Nikolay Angelov said. Albena booked a consolidated net profit of BGN 18.1 million for 2012, on a revenue of BGN 98.5 million.
Source: Capital (01.10.2013)

State finally left the management of BTC after the general meeting of shareholders decided to change the so-called golden share into a common registered share. The golden share entitled the State to block important decisions related to the development of the company. Shareholders also voted the removal of the telecom from the Bulgarian Stock Exchange. A few days ago the Cabinet authorized the Minister of Transport Daniel Papazov to vote "for" the abolition of the special rights of the preferred share. Yesterday's general shareholders' meeting is the second in a row with the same agenda as the first (September 16) had no quorum.
Source: Standart (01.10.2013)

Bulgaria to sell its stake in two free zones in Burgas and Varna Agency for Privatization will offer shares of 17 companies for the sale of the 31st centralized public auction that will be held on "BSE-Sofia". Under the tender packages are sold by companies such as "VMT orbit "AD (98.629%)," Free trade Zone - Burgas "(19.448%)," Transit trade Zone"- Bulgaria (46%), Private joint Stock Company "Zograph" AD (7.584%)", Rendering - Plovdiv "AD (2.478%)", Heavy-Kim"AD (2.548%) and others. The most expensive are the shares of the "Transit Trade Zone" - Bulgaria - lev at 591.31 per share and the "Free Zone - Burgas" AD, which is requested in levs 199.77 per share. The starting date of the offering of packages of shares of centralized public auction will become clear after the publication of the tender notice in the "Official Gazette". Companies will be sold in segment "Centralised Public Auction" to "Privatisation Market" of the Bulgarian Stock Exchange in Sofia. Source: blitz.bg
Source: Other (01.10.2013)

Shares of 30 companies of BG40 grow in price for the first nine months of the year 30 companies, included in calculation of BSE’s BG40 index have reported increase in process of their shares for the first nine months of 2013. 27 of them have registered a two-digit change in percentage. Market capitalization of hardly nine of the companies for the first three quarter of the year has reduced. Solely shares of FairPlay properties REIT remain unchanged. The biggest growth in BG40 for the period January-September 2013 is registered by Yuri Gagarin. The company’s shares have grown in value by impressive 140% to BGN 60 per share in the end of yesterday’s session. The second most profitable company is Synergon holding, which reported a 95.65% increase to BGN 1.35. The third company in the rating is Toplivo with an increase to the amount of 88.82% to BGN 3.21 per share. The very index has grown by 22% for the mentioned period. The last session for September ended at level of 153.61 points.
Source: profit.bg (02.10.2013)

Bulgarian brewer Lomsko Pivo said it bought back 12,545 own shares at an average price of BGN 0.78 each in September. At end-September Lomsko Pivo held 33,415 of its own shares at an average price of 0.74 levs per share, the company said in a bourse filing. According to a decision taken in February, the company plans to repurchase up to 120,000 of its shares, representing 2.67% of its share capital.
Source: profit.bg (03.10.2013)

20% of Agro finance transferred via stock exchange A big transfer of 20% of Agro finance REIT was initiated via the stock exchange in Thursday. The deal is assessed at BGN 15.1 million. In a matter of a single deal 6 443 941 shares were traded at a price of BGN 2.345 for a lot. Among company’s big shareholders are E. Miroglio Finance, Radiant Technology, COOP investment, Corporate commercial bank, Nikkomers 01. Parameters of public offering for capital increase of Intersky AD were also announced. The company tries to raise BGN 3 million in order to modernize its track near Elin Pelin. These improvements are planned to make accepting flights of business jets possible. It is hoped that the upgrade will attract new investors, as well. Major shareholder in Intersky is Albena AD with a 99.99% share.
Source: Capital (04.10.2013)

State construction company Montagi, which several times unsuccessfully privatized has a new management. It is working for its recovery. The company is part of State Consolidation Company, where capital of most significant companies planned for privatization are apported. Montagi still has huge debts due to which two big properties are put for sale at a tender by private bailiffs. On the 23rd of August the company’s CEO was replaced. A month earlier chairman of Board of directors was replaced, too. The new CEO is Kiril Stoyanov, which a long-term employee in Montagi. Ministry of the economy explains this move with the company’s bad financial results together with accumulated debts to the amount of BGN 5.5 million. Stabilization program for Montagi includes several measures aiming at its final recovery. One of them is reduction of Montagi’s branches from 12 to 4, as well as cutting of administrative burden and better coordination between departments for control and management.
Source: Capital (07.10.2013)

Bulgaria’s CSKA Football Club Plans Stock Market Listing CSKA Sofia intends to file for an IPO on Bulgarian Stock Exchange (BSE) at the beginning of 2014, according to CEO. CSKA plans to file for an IPO on BSE at the start of 2014 and within a week the club’s legal form of ownership will be changed from EAD to AD, said Alexander Tomov, CEO, at a press conference on Monday October 7th. “We are currently hard at work according to a time-frame outlined for the incoming IPO and I guess that we will manage to go public shortly after New Year’s Day 2014”, announced Tomov. In July, 2013 CSKA’s management selected the financial company “Aval In AD” as investment intermediary to handle the IPO. Bistra Ilkova, Chair of the Board of Directors of “Aval in AD”, was a CEO of BSE until 2010
Source: Darik Radio (08.10.2013)

Major index SOFIX of Bulgarian Stock Exchange was the best performing index in the region, ranking among the top 5 of the indexes in the world. With an increase of 32% since the beginning of the year, the index is fifth by performance, trailing slightly behind Japan's Nikkei 225, which rose by 34.9 percent this year. For the last 12 months SOFIX added 43.26% to its value. This again puts it fifth in the world by size.
Source: Standart (08.10.2013)

Bulgaria’s Energoremont Holding to vote on distributing 47% of 2012 profit Bulgarian engineering company Energoremont Holding said its shareholders will vote on October 21 the management’s proposal to distribute as dividend 46.6% of the company’s 2012 profit of BGN 6 million. The company will pay out BGN 0.73 per share, or a total of BGN 2.8, which is an increase of 49% on last year’s dividend. For comparison, last year the company had BGN 6 million profit and distributed a total of BGN 2 million as dividends, or BGN 0.49 apiece. Among the major shareholders in the company that will receive the largest share of the dividend are Milenia 77 LTD, which holds 33.03% of the capital, Bulgarian Energy JSC with 32.08%, New Energy and Industrial Technologies Jsc with 21.59% and Geopribor SPJSC, which holds 10.80% of the shares. The dividend is scheduled to be distributed next year starting January 21.
Source: Capital (09.10.2013)

Bulgaria’s Elana Agrocredit raises 2.2 mln euro in IPO Bulgarian agriculture land leasing company Elana Agrocredit raised some 4.4 million levs in an initial public offering, the company said on Tuesday. The shares are expected to be listed on the Bulgarian stock exchange at the end of November, Elana Agrocredit said in a press release. Investors subscribed and paid for 4,415,435 shares with a par value and issue price of 1.0 lev apiece, the company said. Elana Agrocredit's capital now stands at 5.1 million levs. The company will use the proceeds, alongside bank loans, to finance its core business, the company’s CEO Kamen Kolchev was quoted as saying in the press release. The company launched the IPO on September 11, aiming to raise at least 2.0 million levs. It offered investors 15 million new ordinary registered shares.
Source: investor.bg (17.10.2013)

BG Agro with strong growth of sales in end-September BG Agro – one of the largest agricultural holdings to have completed the cycle of production, storage and shipping - achieved better results in end-September compared to the previous year. This year the Varna-based company cultivates over 110,000 decares of land, growing mainly grain and oil-bearing crops. The novelty in its activity is the cultivation of spelt that has reached 250 kilograms per decare. Over the first nine months of the year the consolidated income of BG Agro rose by 63% to BGN 178.399 million, its report in the end of the third quarter shows. The holding also received a higher state subsidy in 2013 of BGN 2.5 million, or nearly BGN 500,000 more compared to 2012
Source: Capital (21.10.2013)

CCB acquired 5% of Bulgartabac Corporate Commercial Bank acquired the package of 4.99% of the capital of Bulgartabac, which was transferred through the stock exchange on Monday for BGN 36.9 million, the Bank of Tsvetan Vasilev announced. Subject of the transaction were 368,200 shares at BGN 100 per piece. A year ago, a similar share of the tobacco holding was acquired by Italian businessman Eduardo Mirolio - for a little over 5 % in several transactions he paid BGN 27 million. Seller of the package was another company of Tsvetan Vasilev - Bromak (through, which he owns CCB). After this transaction there is no other shareholder with such a large proportion (5%) except Mirolio and the majority owner. So far, Tsvetan Vasilev has so far officially denied connection with the former state holding company. Bulgartabac was privatized over two years ago by the then new company BT Invest, owned by Russia's VTB Capital.
Source: Capital (24.10.2013)

Bulgarian flour producer Dzherman delists from Sofia bourse Bulgarian flour producer Dzherman-Sofia said on Wednesday the country's financial regulator has deleted it from the register of public companies. Dzherman-Sofia had 77,858 shares listed on the Bulgarian Stock Exchange, with a par value of 7.0 levs each, the company said in a filing. The decision for the withdrawal of the company from the stock market was approved by its shareholders at a general meeting on September 20. Bourse trading did not facilitate Dzherman's financing, the company’s management said earlier this year, adding that by delisting, the flour producer expects to improve its operational flexibility. Dzherman-Sofia is equally owned by shareholders Tanyo Tanev and Lyubomir Mirchev. The two businessmen managed to take full control of the company after raising their stakes through a tender offer, preceded by a capital hike.
Source: money.bg (24.10.2013)

Elana Agrocredit attracted professional investors Professional investors inscribed the majority of shares Elana agrocredit offered to the market, via its IPO. 85 individual investors took part in the procedure as becomes evident from the list of new shares. Thus the company succeeded in raising funds to the amount of BGN 4.4 million through which it increased its capital from BGN 700 thousand to BGN 5.1 million. Listing of the stock exchange is imminent now, as well as additional attraction of borrowed capital, by which available funds to increase to over BGN 15 million. This is to make possible for the company to expand its activity on offering of financial leasing for buyers of agricultural land. Available resources of Elana up-to date are to be invested by the end of the first quarter of next year. Elana agrocredit’s CEO said that negotiations re being lead with foreign banks for borrowing. Before the IPO major shareholders in the company were as follows: Elana holding with a share of 35.57% and CEO Kamen Kolchev with less than 1% of the company. After the procedure the greatest share of the capital is owned by EF-consult, which recorded 1.4 million shares.
Source: Capital (28.10.2013)

Bulgaria resumes efforts to sell stakes in bourse operator, central depository Bulgaria's deputy prime minister Daniela Bobeva said the government will renew its efforts to sell the state-owned stakes in the operator of the country's stock exchange and the Central Depository, local media reported on Friday. A year ago finance minister Simeon Dyankov asked the Privatization and Post-Privatization Control Agency to launch a tender for an international advisor on the bourse's sale but the Cabinet's resignation in the spring delayed the process. The finance ministry has already approved the launch of the privatisation procedures, daily Trud quoted Bobeva as saying. With the move, the government aims to give a boost to the development of the country's capital market, Bobeva added. The state holds 50.5% of the bourse operator and 43.7% of the Central Depository. Another 6.61% of the Central Depository are owned by the Bulgarian Stock Exchange.
Source: Darik Radio (28.10.2013)

Central Cooperative Bank (CCB) plans to issue bonds for EUR 36 million, the Financial Supervision Commission (FSC) informed. At its last meeting, the watchdog approved the prospectus for the public offering of debt securities that can be converted into shares. The bonds are not secured. The bank did not want to give more information on the public offering and explained that it would soon publish a prospectus in which everything will be detailed. Usually, placement of bonds is a way for banks to raise funds for lending. Interest on debt securities is lower than those on loans to businesses and households, and so the bank wins, while expanding its activities. According to CCB, the annual interest on the bonds will be 4.5% and their maturity will be in 2020.
Source: Capital (31.10.2013)

On 31 October 2013 the Bulgarian Energy Holding successfully completed prior recording of a bond issue in the amount of EUR 500 million. The issue has a maturity date in November 2018 and 4.287% interest. The original intention was to seek EUR 250 million, but after the queries were for about EUR 1.2 billion, or five times the amount, the issue was increased. Conditions agreed by BEH are better as compared to the bond issue placed by the Ministry of Finance in 2012 with a yield to maturity at the rate of 4.436% for EUR 950 million of the same maturity - 5 years, says in the message of the holding. Money is to cover the liabilities of NEK under the project of NPP Belene, as well as other investment projects, including gas connections.
Source: Dnevnik (01.11.2013)

Bulgaria's BEH Raises EUR 500 M from Bond Issue Bulgaria's state energy holding company BEH has raised EUR 500 M, the company announced as the early signing for its bond issue on international market was wrapped up. The company initially planned a EUR 250 M bond issue, needed to refinance debt which matures in May. The bond issue, which will cover the bridge financing, is for five years with an interest rate of 4.287%. BEH was incorporated in 2008 with a decision of the then ruling Socialist-led government. BEH EAD is a shareholding company with 100% state owned participation. The Holding includes Mini Maritsa Iztok EAD, Maritsa East 2 TPP EAD, Kozloduy NPP EAD, NEK EAD, Electricity System Operator EAD, Bulgargaz EAD, Bulgartransgaz EAD and Bulgartel EAD. All companies, brought together in the holding structure, preserve their operational independence and licenses, as they are all owned and directly subordinated to the corporate center BEH EAD. The Bulgarian Energy Holding EAD is one of the largest companies in the region, and national energy leader. Bulgaria tapped last summer international markets to raise funds to repay the first tranche of about EUR 835 M (USD 1.07 B) in 11-year Eurobonds, which matured on January 15, 2013.
Source: Capital (04.11.2013)

Winslow land invest acquired 32% of Agro Finance REIT Winslow land invest JSC acquired 32,1% of Agro finance REIT’s capital on the 29th of October 2013. In that way its share is 32,334%, as compared to 0, 1143% that the company held before the purchase. ïðåäè òîâà. On the 25th of October a package representing 32% or 10 345 748 shares at a single price of BGN 2, 35 was transferred. Thus Winslow increased its share up to 32, 52%. Seller of these 32, 1% is Coop investment SPJSC. On the 24th of October the latter bought 20% and increased its share to 44,359%. Winslow land invest became popular with the purchase of Omega invest JSC in the spring of 2013. In that way its portfolio of agricultural land reached a total of over 190 thousand acres as compared to just 31 thousand acres beforehand.
Source: investor.bg (05.11.2013)

Bulgaria’s Central Cooperative Bank launches convertible bond issue Bulgaria’s Central Cooperative Bank (CCB) has offered for subscription 36,000 convertible bonds for a total of 36 million euros, the bank said on Tuesday. The bonds, which will mature in 2020, have a par value and an issue price of 1,000 euro apiece and an interest rate of 4.5%, the bank said in a filing with the Sofia stock exchange. Holders of 3,143.17 shares are entitled to subscribe to one new bond. New investors can buy subscription rights on Sofia stock exchange. The company will consider the bond issue successful if it sells at least 23,000 bonds for 23 million euro in total.
Source: Capital (06.11.2013)

Drujba Glassworks will secure new debt to its owner Drujba Glassworks will secure a new emission of bonds for a company of the group of Greek Yioula, part of which is the Bulgarian company, too. Issuer will be registered in the Netherlands Glasstank, while security from Drujba will include a pledge on all its fixed assets, mortgages on real estates as well as unconditional corporate guarantee. Other companies of the Greek group, including Bulgarian New Glass will participate as warrants of the bond emission. The aim is generated revenues to be used for refunding of debt securities issued in 2005 by Yioula whose maturity is due in the beginning of December 2015. Drujba is one of the warrantors of these securities. This is to allow the Bulgarian company to get bank funding in order to complete its investment program. The issue of Glasstank will amount to no more than EUR 220 million, with interest up to 12% and a term of between 7 and 10 years.
Source: Capital (06.11.2013)

E. Miroglio raises stake in Bulgaria’s Bulgartabac Holding to 10.44% Luxembourg-based company E. Miroglio Finance raised its stake in Bulgaria's Bulgartabac Holding [BUL:57B] to 10.44% in a block deal on the stock exchange, the holding said in a bourse filing. The investor bought 161,950 shares of the tobacco group, equal to 2.2% of its capital. The deal was registered with the country’s central depository on November 5, Bulgartabac Holding added. Bulgartabac did not disclose the value of the transaction but stock exchange data show that some 161,950 shares of Bulgartabac Holding were traded on November 1 for an avåràge price of 101 levs apiece. Bulgartabac is 79.83% owned by BT Invest GmbH. The holder of E. Miroglio Finance, investor Eduardo Miroglio, already owns in Bulgaria a textile company and a winery. In addition E. Miroglio Finance acquired in February 22% in one of the biggest farmland funds in the country, Agro Finance.
Source: Capital (07.11.2013)

Euroins has increased its share in the capital of Synthetica JSC from 149,683 to 155,983 shares, the company informed. After the change, the shareholding Euroins is 5.199% in the share capital of the public company. Synthetica JSC is listed on the Bulgarian Stock Exchange on May 20, 2013. The company is a production holding, consolidating businesses od Plastchim - T JSC, Etropal and is a minority shareholder in Formoplast JSC. Etropal and Formoplast are public companies traded on the Bulgarian Stock Exchange - Sofia.
Source: profit.bg (11.11.2013)

Quarzwerke starts squeeze-out of Bulgaria's Kaolin shareholders German minerals extracting and processing company Quarzwerke launched a squeeze-out offer for 1.75% of Bulgarian peer Kaolin at a price of 4.156 levs per share, Kaolin said on Monday. Quarzwerke seeks to buy 873,427 shares it does not own yet at a price identical to the one it paid for its current holdings. The offer will be published in local dailies Capital and Sega, Kaolin said in a statement filed with the Bulgarian Stock Exchange. Quarzwerke bought some 87% of Kaolin from Bulgaria's Alfa Finance Holding in May 2013 and increased its stake in the company later.
Source: investor.bg (12.11.2013)

Bulgaria's Elana Agrocredit, Regala Invest, Galata Investment Co registered as public cos The Bulgarian financial regulator said it entered local companies Elana Agrocredit, Regala Invest, and Galata Investment Company in the country’s register of public companies. The Financial Supervision Commission (FSC) entered in the register a 5.1 million lev share issue of Elana Agrocredit, FSC said in a statement published on its website on Thursday. Each share has a nominal value of 1.0 lev. It has also entered in the register a 18.4 million lev share issue of Regala Invest and a 68.6 million lev share issue of Galata Investment Company, with a nominal value of 1.0 lev per share each.
Source: Capital (12.11.2013)

Bulgaria’s Biovet 9-mo cons net profit up 35% Bulgarian veterinary drugs producer Biovet said on Tuesday its consolidated net profit rose by 35.4% on the year to 8.4 million levs for first nine months of 2013. Net earnings per share rose to 1.24 levs in the period from 0.91 levs in the first nine months of 2012, the company said in a statement filed with the Sofia stoch exchange. Biovet’s sales revenue increased to 133.9 million levs in the January-September period from 128 million levs a year earlier. Biovet is 82.36 % owned by Bulgarian pharmaceutical company Huvepharma, backed by Citi Venture Capital International (CVCI).
Source: Capital (13.11.2013)

Stock exchange privatization starts The state will force the privatization through the stock exchange, said Deputy Prime Minister for Economic Development Daniela Bobeva. Bulgarian Stock Exchange and the Central Depository will be privatized. They are included in the annual program of the Agency for Privatization, which was approved on November 8. Other companies involved in the program are of interest not so much with their activity, as with some attractive assets, Bobeva said. Privatization just died, said Deputy Prime Minister, and according to her the situation is always suitable for sale. "All with interest in it and is not protected by the special considerations of public interest should be sold," Bobeva said. And according to her there is no better way to sell than through the stock exchange. Major European exchange operator would be the most appropriate buyer of BSE, she added.
Source: Standart (13.11.2013)

SEWRC chairperson does not rule out punitive action against CEZ The decision of the State Energy and Water Regulatory Commission (SEWRC) to terminate the procedure for the revocation of CEZ Electro Bulgaria’s license does not mean that it will not take punitive action against the company. Inspections there continue and every violation registered will lead to material sanctions, the SEWRC explained. SEWRC Chairperson Anzhela Toneva told BNT on Sunday that since the procedure was launched the sanctions the state regulator has levied on the company are estimated at over BGN 4 million.
Source: Capital (18.11.2013)

State waits BGN 39 million from its stake in the fair The state has decided to sell its stake in International Fair Plovdiv. The Privatization and Post-Privatization Control Agency is to offer to sell state-owned shares on the Bulgarian Stock Exchange. It is expected to sell the shares for a minimum of BGN 39 million. State's share of the fair is 49.63%, and the decision to sell was reached because the state cannot participate fully in the management of the company and in the last few years it did not receive dividends. In 2006, former public-private entity Puldin Tourinvest acquired ownership of the fair through a capital increase of 34%. It received a carte blanche by the then Minister of Economy Rumen Ovcharov. Subsequently, public- private company was owned by businessman George Gergov. A year later, again through a capital increase, Puldin Tourinvest controls 49% of the fair, and in 2009 Gergov redeemed shares from individuals and became the majority owner.
Source: Standart (18.11.2013)

Management Team of Bulgarian Stock Exchange to Change in Jan 2014 The management team of the Bulgarian Stock Exchange will be changed in two months, according to the agenda of the general shareholders' meeting scheduled for January 14, 2014. The meeting is initiated by Bulgaria's Finance Ministry, which holds a 50.05% stake of the capital of the Bulgarian Stock Exchange (BSE). The only point on the agenda of the upcoming general meeting of shareholders of the BSE is changes to the Board of Directors, according to dnevnik.bg. The Board of Directors is currently headed by Asen Yagodin, who also headed the Bulgarian Development Bank (BDB) until recently. The Deputy Chairman of the Board of Directors is Vasil Golemanski, Ivan Takev is Chief Executive Officer, and Lyubomir Boyadzhiev and Georgi Balgarski are members of the Board of Directors. Meanwhile, speaking Monday at a conference on the access of Bulgarian businesses to financial instruments offered by international financial institutions, Deputy Prime Minister Daniela Bobeva confirmed that the privatization procedure for the Bulgarian Stock Exchange, which had been suspended by the center-right GERB government, had been renewed. She said that a strategic investor was sought for the BSE that would revitalize the capital market in Bulgaria. Bobeva, as cited by the Bulgarian Telegraph Agency, informed that the Central Depository would also be privatized. She also made clear that the administrative burden would be substantially reduced to encourage the listing of Bulgarian companies on the BSE.
Source: investor.bg (19.11.2013)

Total purge of the Board of Directors of "Sunny Beach" AD The Board of Directors of "Sunny Beach" AD, at the request of the shareholder Ministry of Economy, owning 75 percent of the company's capital convenes a general meeting of shareholders on December 23, announced the Bulgarian Stock exchange. In the agenda of the General Assembly comes the release of members of the Board of Directors of the company. Their names are Zlatko Todorov Dimitrov, Ivo Marinov Simeonov, Konstantin Dimov Lefterov, Sonya Markova Enilova Damyanova and Mariela Pavlova. Available new Board members: Yordan Georgiev , Mosinov Evgenii Nikolov, Rumen Kulev Kulev, Svetlodara Encheva Petrova, Valentin Georgiev Mihalev. In the absence of a quorum, the meeting will be held on January 7, 2014. The final date for transacting shares of this company on the stock exchange as a result of which the holder is entitled to exercise its right out loud in the GMS is December 5.
Source: Monitor (20.11.2013)

Bulgaria’s BGI Group seeks to raise EUR 25.6 mln via share issue Bulgarian real estate company BGI Group said on Wednesday it plans to raise its capital by BGN 50 million via a share issue. The company will issue 50 million ordinary shares with voting rights at an issue price of BGN 1.0 apiece. BGI Group wants to raise its capital from BGN 200,000 to BGN 50.2 million.
Source: Capital (21.11.2013)

The first ETF fund may be established next year Amendments to the Bulgarian legislation may allow for the establishment of a new trade instrument on the Bulgarian Stock Exchange – Sofia (BSE), namely an exchange-traded fund (ETF). It will make trading in Bulgaria more dynamic. The initiative for its establishment is led by business representatives. ETF are instruments that are bought and sold on the stock exchanges like shares, but unlike them they are considered less risky investments. They are dependent on the total general presentation of the "basket" of assets, which provides greater security. Funds raised by the ETF are invested on the market in accordance to its structure
Source: Capital (25.11.2013)

13 lucrative state-owned companies will be put up for sale, according to Emil Karanikolov, Executive Director of Bulgaria's Privatization and Post-Privatization Control Agency (PPCA). He outlined the major privatization targets for 2014. PPCA’s program for 2014 has an estimated value of BGN 217 million and includes 37 companies, most eye-catching of which are the Central Depositary, Bulgarian Marine Fleet, the Plovdiv Fair. VMZ-Sopot and Slanchev Bryag will not be privatized next year
Source: investor.bg (27.11.2013)

Bulgaria's OTZK replaces Kaolin in Sofia bourse BG 40 index Bulgarian lead and zinc smelter OTZK will replace mineral extracting company Kaolin in the BG 40 index of the local stock exchange, the bourse operator said on Tuesday. The change will become effective as of November 27, the Bulgarian Stock Exchange (BSE) said in a statement posted on its website after the end of trading hours. Earlier this month German minerals extracting and processing company Quarzwerke launched a squeeze-out for 1.75% of Kaolin. Quarzwerke bought some 87% of Kaolin from Bulgaria's Alfa Finance Holding in May and later increased its stake in the company. BG 40 is a price index that tracks 40 issues of common shares with the greatest number of transactions and the highest median value of the daily turnover during the last six months.
Source: money.bg (27.11.2013)

Sofia bourse grants local Alfa Asset Management rights to SOFIX brand The Bulgarian Stock Exchange (BSE) has granted non-exclusive rights to Bulgarian Alfa Asset Management to use the brand of the SOFIX index when marketing investment schemes based on the index, BSE said in a press release on Thursday. This is the first time BSE has given SOFIX license to a local entity, the bourse said in a press release. SOFIX is the main and the oldest BSE index. It tracks the 15 most liquid stocks on the Sofia bourse. Companies are included based on their liquidity, market capitalization, free-float and the number of shareholders. Alfa Asset Management runs three mutual funds - Alfa Index Imoti, which invests in REITs; Alfa Index Top 20, the only Bulgarian index fund following the Dnevnik 20 index; and Alfa Selected Shares, which invests mainly in Bulgarian public companies.
Source: investor.bg (29.11.2013)

Alfa Asset Management will replace its Alfa Index Top 20 fund with a scheme tracking the performance of BSE-Sofia’s blue-chip index SOFIX. For that purpose, BSE-Sofia’has granted Alfa Asset Management the nonexclusive right to use the SOFIX trademark. The company belives its new fund will become more popular than its current indicator based on the Dnevnik 20 index
Source: Capital (02.12.2013)

About 47.9% of Petrol was transferred through the Bulgarian Stock Exchange. Trade in the stock market yesterday amounted to BGN 105.69 million, after the transfer of 47.9% of the capital of Petrol worth BGN 104.733 million in 567 transactions at an average price of BGN 2.02 per share. Pension Funds of Doverie and Allianz gained more than 5% each from Elana Àgrocredit as funds of Allianz Bulgaria have 19.5486% and UPF Doverie has 5.8646%.
Source: Standart (03.12.2013)

Bulgaria’s Corpbank extends USD 15 mln loan to local Petrol Holding Bulgaria’s Corporate Commercial Bank (Corpbank) has extended a USD 15 million (EUR 11 million) credit to local fuel retailer Petrol Holding, local media reported on Wednesday. Corpbank provided the secured credit in July. In 2011, Petrol Holding obtained an USD 86 million loan from Corpbank and local Central Cooperative Bank. Russian businessman Kirsan Ilyumzhinov bought 52.5% of Petrol Holding in 2012. Speaking at a news conference last month, Ilyumzhinov said he has proposed to buy out the stake of the other shareholder, Mitko Sabev. A couple of days ago, some 52,137,428 shares, or 47.7%, of Petrol, a majority-owned unit of Petrol Holding, changed hands on the Sofia stock exchange at an average price of BGN 2.009. No information about the buyer is available.
Source: Capital (04.12.2013)

Court declares Bulgarian lead, zinc smelter OTZK insolvent A Bulgarian court has declared local Lead and Zinc Complex insolvent, a court filing indicated. Lead and Zinc Complex cannot cover its current (short-term) liabilities of BGN126.9 million with its liquid (short-term) assets of BGN 91.02 million listed in its balance sheet as of June 30, 2013, the Kurdzhali district court said. The decision can be appealed within seven days. A meeting of the company’s creditors will be held on December 18. For initial date of insolvency was accepted 31st of December 2012. Lead and Zinc Complex's net loss widened to BGN 38 million in the first-half of 2012 from BGN 5.1 million in the same period of 2012. In September 2012, Sofia-based Harmonee 2012 bought 50% of indebted Lead and Zinc Complex for BGN 8.6 million.The company's major creditors are Viena-based MFC Commodities and Bulgarian FIB. The foreign company has claims as a trading partner of Lead and Zinc Complex under unrealized contract for delivery of metals.
Source: Capital (04.12.2013)

Bulgaria's Central Depository registers bourse deals with Petrol shares Bulgaria's Central Depository has registered the recent deals involving a large volume of shares of fuel retailer Petrol conducted on the Sofia bourse. On Monday 52,137,428 Petrol shares, equal to a 47.7% stake in the company, changed hands on the Bulgarian stock exchange at an average price of BGN 2.009. No information about the buyer or buyers is available. Petrol's majority shareholder is local Petrol Holding. Acting on a claim by Petrol Holding that the transactions involved incorrect data, a Bulgarian district court requested from the Central Depository to not register them, a spokesperson of Petrol Holding's majority shareholder Kirsan Ilyumzhinov confirmed for SeeNews over the phone. However, the Central Depository has already registered the deals, news portal Investor.bg reported on Thursday, quoting investment intermediaries. Ilyumzhinov holds 52.5% of Petrol Holding.
Source: Capital (05.12.2013)

Battery maker Elhim Iskra to replace smelter OTZK in Sofia bourse BG40 index Bulgarian car battery manufacturer Elhim Iskra will replace lead and zinc smelter OTZK in the BG40 index of the local stock exchange, the bourse operator said on Wednesday. The change will be effective as of December 5, the Bulgarian stock exchange (BSE) said in a statement posted on its website. OTZK has been a BG40 component only since last week, when it replaced mineral extracting company Kaolin in the index after 100% of Kaolin was acquired by German peer Quarzwerke. On Friday, however, OTZK was declared insolvent by the Kurdzhali district court. BG40 is a price index that tracks 40 issues of common shares with the greatest number of transactions and the highest median value of the daily turnover during the last six months.
Source: investor.bg (06.12.2013)

Bulgarian fuel retailer Petrol shares jump 13% on Sofia bourse The shares of Bulgarian fuel retailer Petrol jumped 12.90% to BGN 2.800 on the Bulgarian stock exchange by 1332 CET on Monday. The fuel retailer's shares rose on news that local company Alfa Capital bought a 47% stake in Petrol last week. The seller was private enforcement agent Marian Petkov, he added. On December 2, some 52,137,428 Petrol shares, equal to a 47.7% stake in the company, changed hands on the Bulgarian stock exchange at an average price of BGN 2.009. No information about the buyer was available until Monday, when the Central Depository announced the parties to the transactions. According to local news portal Dnevnik.bg, the buyer is affiliated to local Corporate Commercial Bank. The Central Depository's announcement put an end to the uncertainty surrounding the deal and the market reacted positively, the broker said. On Wednesday, acting on a claim by Petrol's majority shareholder, local Petrol Holding, that the transactions involved incorrect data, a Bulgarian district court requested from the Central Depository to not register them.
Source: Capital (10.12.2013)

The turnover of the Bulgarian Stock Exchange - Sofia (BSE) has reached BGN 1.4 billion since the beginning of 2013, i.e. 64% more compared to the total turnover in 2012. The amount of transactions so far is 82,000, or 18.6% more compared to 2012. SOFIX increased by 2.77% to 468.47 points in November.
Source: Standart (10.12.2013)

Bulgaria’s Corpbank exits local REIT Agro Finance Bulgaria's Corporate Commercial Bank has sold its 7.42% stake in local real estate investment trust (REIT) Agro Finance. Corporate Commercial Bank (Corpbank) sold 2,392,589 Agro Finance shares in a transaction registered with the country’s Central Depository on December 10, the bank said in a filing with the Sofia stock exchange. The price of the deal was not disclosed. However, according to Sofia stock exchange data, the shares changed hands on December 6 at BGN 2.350 apiece. Agro Finance owns an investment portfolio of 14,087 hectares of farmland as of September 30.
Source: money.bg (11.12.2013)

Bulgaria eyes EUR 167 mln in privatization proceeds in 2014 he Bulgarian Privatization and Post-Privatization Control Agency on Wednesday forecast that sell-off revenue would total BGN 326.4 million in 2014. The agency said in a press release it expects to contract privatization-related payments totalling BGN 308.8 million next year while planning to pocket a further BGN 17.6 million in post-privatization control-related proceeds. The bulk of the privatization proceeds next year should be generated by the sale of shares and equity stakes in, among others, bourse operator Bulgarian Stock Exchange, Navigation Maritime Bulgare, the operator of the International Fair Plovdiv and real estate agency ADIS.
Source: money.bg (12.12.2013)

Media Group Black Sea Ltd. December 42 sections 500 of its shares in the INVESTOR Media group Black Sea Ltd. has sold 42,500 shares of Investor.BG. The package represents 2.95% of the share capital of the public company. This package was traded on 29 November 2013 at BGN 11.99 per share. On the same day were transferred two sets of these shares, 29,200 and 16,700 for the same price. The average price of the shares of Investor.BG so far this year has been BGN 12.387 as its increase since then is 57.97%. Prior to purchase Media Group Black Sea Ltd. was the owner of 7.48% of the capital of Investor.BG. After the deal it remains with a 4.53% shareholding.
Source: investor.bg (14.12.2013)

CCB buys 7.96% of Petrol Corporate Commercial Bank (CCB) bought 8,700 000 of Petrol’s shares, i.e. 7.96% of the company’s capital, CCB announced on the website of the Bulgarian Stock Exchange – Sofia (BSE). The seller’s name will be revealed on 27 December.
Source: econ.bg (19.12.2013)