Agricultural land leasing company ELANA Agrocredit (0EA BU) joins bluechip index SOFIX for the first time, the Bulgarian Stock Exchange announced in the new rebalancing to become effective as of 25 September 2018.
Poultry producer Gradus raised BGN 81.4m from its IPO, the latter being the second largest IPO on the Bulgarian stock market. Gradus placed 45.22 million shares at BGN 1.80 per share raising BGN 79.1m during its IPO auction that took place on 18th and 19th June.
The Financial Supervision Commission (FSC) approved poultry producer Gradus’ IPO prospectus, the FSC announced in a filing. The IPO is expected in mid-June. The Company seeks to raise more than BGN 100 million by placing a total of 55.6 million shares, 50% of which existing and 50% new shares.
The biggest vertically integrated human health pharmaceutical group in Bulgaria Sopharma booked record performance in 2017 with the top line hitting BGN 1bn and best EBITDA ever on strong organic and M&A driven growth. Individual bottom line margins healthy above historical and peer averages at 20%+ as cost and group optimization kicked in.
Latest SOFIX rebalancing comes with two replacements, according to notice published by the Bulgarian Stock Exchange. As a result SOFIX adds Trace Group Hold (T57 BU) and Holding Varna (5V2 BU). The two stocks are replacing Neochim (3NB BU) and M+S Hydraulic (5MH BU).
Bulgaria’s only steel panel radiator producer Korado Bulgaria strengthened its financial results in FY2017, confirming its position of a wellmanaged and profitable company in a rather mature sector with strong competition from European and global peers – this is what ELANA Trading analysts say in their updated corporate profile for the Company.
Radiators producer Korado Bulgaria reported a 30% y/y increase in revenue to BGN 42.3m and a spectacular 81.4% y/y growth in net profit to BGN 5.3m, as the Company published in its Q4’17 financial statements.
ELANA Agrocredit lent a total of BGN 8.7m as working capital loans for farmers with leasing contracts, during the farming business year 2017/2018, marking an increase of 50% y/y, the company announced in its bulletin for December 2017.
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