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More announcements of GMs shed light on dividend yield for FY2018
With more general shareholders meetings (GSM) announced (and some already held), shares on the Bulgarian stock exchange bring 1.3 to 4.2% dividend yield for FY2018.
Gradus IPO prospectus is approved, launch expected mid-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.
CEZ postpones Bulgarian assets sale decision for end of February 2018
CEZ Group postpones the Bulgarian assets sale decision for the end of Feb’18, according to local media reports quoted by Capital newspaper. CEZ has been exploring to sell its Bulgarian assets, which include leading grid operator CEZ Distribution Bulgaria, trader CEZ Electro, CEZ Trade and renewables in Bulgaria, since the start of 2016.
Fitch upgrades Fibank to B from B- with a stable outlook
Fitch upgrades Fibank or First Investment Bank (5F4 BU) to B from B- with a stable outlook. It also affirms Unicredit Bulbank and Raiffeisen Bulgaria’s BBB- with a stable outlook and United Bulgarian Bank’s BBB- with a positive outlook, according to an announcement by the rating agency. Fibank improvement Fitch’s upgrade for Fibank is driven… 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
Bulgarian stocks book best Q1 since the start of 2014
The main index of Bulgarian stocks SOFIX added 8.11% q/q in 1Q17, best performance since the start of 2014. The index booked fourth consecutive quarter on the upside adding 43% since the last down quarter – 3Q16. Generic drug pharma company Sopharma (3JR BU) contributed most to SOFIX’ performance over the quarter, adding 31% q/q… Read more
First Investment Bank management expects 12% ROE in 2017
First Investment Bank (5F4 BU) held a meeting with minority shareholders on 24 March 2017 to present 2016 FY results. The meeting was attended by Mr. Vassil Christov, Chief Executive Officer of the bank, Mr. Dimitar Kostov, Chief Risk Officer, and Mr. Jivko Todorov, Chief Financial Officer, bank announcement to the stock exchange says. First… Read more
SOFIX reaches 8.4 year high
Bulgarian Stock Exchange blue-chips index SOFIX reaches 8.4 year high closing at 624.91 on March 10, 2017. This is 2.4 times above the February 2009 low for the period and 1.25x above the low at the end of October 2008. The index has still way to go to reach its all-time high of 1934.45 points… Read more
First Investment Bank reports for 2016 the best profit in history
Third largest bank in Bulgaria in terms of assets, First Investment Bank, booked best profit in history but missed on expected portfolio provisions – this showed in newly published unconsolidated unaudited FY 2016 financial statements. First Investment Bank net profit sevenfold y/y The Company’s net profit surged sevenfold y/y to BGN 90.2m on lower than… Read more
SOFIX ETF gets BGN 22m inflow and considers cross listing abroad
The first SOFIX EFT – Expat Bulgaria SOFIX UCITs ETF gets BGN 22m cash inflow from local pension funds, considers cross listing abroad, the fund manager Expat Asset Management announced in a statement. The inflow is one of the highest since the end of 2008 crisis. As a result SOFIX is at a two year… Read more
