FSC licensed Expat Bulgaria Short SOFIX fund

The Financial Supervision Commission (FSC) licensed Expat Bulgaria Short SOFIX fund, the Commission announced in a filing. In an interview with local media Investor.bg, Nikolay Vasilev, who is the CEO of the fund’s managing company Expat Capital, explained details concerning the fund. The Fund, which will function as an Alternative Investment Fund, will borrow shares of SOFIX constituents from investors who own them in exchange for interest. Then, it will sell them on the market and in the case of drop in the price, it will purchase shares from the market, returning them to the lenders and realizing profit.

Mr. Vasilev also said that he expected the Fund to raise BGN 100k initial capital in the next couple of weeks after which it would list on the Bulgarian Stock Exchange.

Buy-back procedure for Korado successfully completed

Steel radiators producer Korado (4KX BU) completed previously announced buy-back procedure, purchasing 12 000 shares (0.09% of its capital), the Company said in a filing. This was the maximum amount subject to the buy-back. The price range was between BGN 5.24 and BGN 5.57 per share. The price range is in accordance with Korado’s previously announced methodology, where the former is between 80% and 85% of the last closing price in the day preceding the day of the registration of the Company’s extraordinary meeting’s decision by the Commercial Registry.

ELANA Trading is the chosen investment intermediary servicing the buyback.

More in detail abour Korado Bulgaria

SOFIX blue-chip Gradus reported successful expansion

Poultry producer Gradus (GR6 BU) has increased poultry capacity by 250k, the Company said in a filing this week. The latter is a result of expansion of poultry breeding center in Stara Zagora. This will result in a 312 ton annual boost in meat production.

More in detail about Gradus

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