Sirma, ELANA Trading, Bulgarian Stock Exchange

Sirma Group Holding started trading on the Bulgarian Stock Exchange today with a 6% rise above IPO price during the first hours of trading. The stock opened at BGN 1.245 per share or 3.75% above BGN 1.20 IPO price and climbed to BGN 1.348 per share (up 12.3% above IPO price) before settling down at BGN 1.27 per share in midday trading. Trading reveals increased demand from both retail and institutional investors.

Sirma Group Holding trades with a SKK ticker.

A total of 59 360 518 shares was registered by the Bulgarian Stock Exchange for trading on 18 November 2015. The opening price was set at BGN 1.20, which was the IPO price. This valued Sirma at BGN 71.2 m market cap and at a 2014 P/S multiple of 2.56.

The largest IPO on the Bulgarian Stock Exchange since 2008

Sirma Group Holding, which is a leading IT developer in Bulgaria, raised BGN 11.5m in an IPO in mid-Sept to mid-Oct to fund US expansion and boost sales and marketing channels. It attracted 300+ new investors both institutional and retail. Retail demand positively surprised as Sirma’s IPO was the first since 2013 and the biggest since 2008 in Sofia. The final IPO price was set at BGN 1.20 per share, at the lower end of the IPO price range. ELANA Trading was the IPO manager.

About Sirma Group Holding

Sirma Group Holding is a well-diversified IT company with key capacity in software engineering, semantic technologies, system integration, cloud and mobile solutions. Delivered 24% CAGR for the last three years and is expected to growth at a 20%+ over the next five years as IPO money kick in

All about Sirma Group Holding IPO

Visit Sirma’s investor relations website