Caretaker Minister of Economy Teodor Sedlarski visited yesterday the Bulgarian Stock Exchange in a meeting with BSE management where he said opportunities for funding state companies via listing was discussed among other issues of boosting local capital market development. Minister Sedlarski said to media a list of public companies is being reviewed by assessing which of companies with minority state stake can get to be funded by the stock market.
It was the first time after 11 years that a minister of economy rang the opening bell and expressed support for the capital market, after listing the biggest telecom back in 2005 – BTC. “Soaring indices signal our economy is recovering from the crisis. We will work for attracting more attention to the local capital market – both within the country and abroad”, Sedlarski said to local media.
Bulgarian Stock Exchange with a road show in London in May
On 18 May 2017 Bulgarian Stock Exchange will organize a road show in London in cooperation with the European Bank of Reconstruction and Development (EBRD). The bourse management will present to foreign investors the opportunities of the Bulgarian capital market they can use.
„We are discussing cooperation with other institutions so that we can attract more investors at the presentation”, BSE Deputy Chairman Vasil Golemanski noted. “Our partners in London and Frankfurt will facilitate the process”, he added.
Easy access to stock market for SMEs
Economy minister explained that SMEs are a priority for caretaker government and the ministry has been working with the Bulgarian Stock Exchange on development of SMEs trading platform that will allow easy access to bourse capital for small companies.
Golemanski noted the project will be ready for implementation in 9 months.
Back in January, at the traditional BSE annual awards ceremony, Sofia bourse management announced that government bonds trading will start by the end of 1H17. Additionally, the exchange is working on starting a segment to trade foreign stocks to be settled by Clearstream as well as organizing a special trading segment for small and medium enterprises.
If all measures take effect in 2017, as planned, the effect is expected to be market turnover doubling, noted Golemanski then, quoted by local media.