Bulgarian Stock Exchange

SOFIX rises to 9-year high and expands valuation 20% q/q

SOFIX P/E valuation expands 20% q/q to 11.6x earnings in Q2 2017, according to Bloomberg data. Valuation remains unchanged y/y as stock valuations advance with corporate fundamentals. Current SOFIX P/E is only slightly above its 12M moving average signaling room for further expansion. The index booked fourth consecutive daily rise on 10 August 2017 to… Read more

Bulgarian Stock Exchange

Bulgarian Stock Exchange to start government securities trading

Bulgarian Stock Exchange (BSO BU) to start government securities trading as early as October 2017, according to a statement by the bourse operator. The stock exchange has received the regulatory nod as to the trading rules. By September 30th, 2017 a functional connection is expected to be implemented between the stock exchange and the Bulgarian… Read more

Fibank explores strategic options, including new investors

Fibank (5F4 BU), 3rd largest bank in Bulgaria, explores strategic options and hired Citigroup Global Markets Limited as a financial adviser, the Company announced in a regulatory filing. The strategic opportunities include: Entering a strategic partnership and/or consolidation; Attracting new core investors; Raising capital to fund future growth. No time frame for the initiated exploration… Read more

Asset Review: Bulgarian insurance companies and pension funds are stable

The Insurance Balance Sheet Review and Pension Funds Asset Review of the Bulgarian insurance and pensions sector showed stability, this was announced at the presentation of reports at a press conference on 3 February 2017 given jointly by the Bulgarian Financial Supervision Commission and the European Insurance and Occupational Pensions Authority (EIOPA). The Insurance Balance… Read more