Fri, Feb 10 2012

Corporate bond attack of Bulgarian stock exchange

Mon, Oct 24 2005 01:00 CET

byBusiness Staff

233 Views

Bulgaria's financial regulator gave its approval on October 13 for the listing of two corporate bond issues of about eight million euro for secondary trading on the stock exchange.


The first debt issue that would be listed on the Bulgarian Stock Exchange - Sofia (BSE) is a five-million-euro three-year floating-rate bond that was privately placed by drug maker Sopharma in June, the Financial Supervision Commission said. The issue, including 5 000 bonds of a par value of 1000 euro each, has a coupon equal to the six-month EURIBOR plus 300 basis points.


The other bond cleared for secondary trading was issued by Bulgarian-registered AutoBohemia, which leases Czech Skoda cars. The firm issued in July a six million leva (about three million euro) five-year fixed-rate bond. The issue includes 6000 bonds with a par value of 1000 leva each.


Meanwhile, the trading week on the BSE started on Monday (October 17) with tobacco holding Bulgartabac crashing by 5.19 per cent and pushing the blue-chip SOFIX and the BG-40 indicator of the most-traded stocks downhill. The shocking increase of excise duties on cigarettes in 2006 is expected to seriously damage the market for Bulgartabac's products.


SOFIX lost 1.27 per cent to reach 855.25 points, while the BG-40 saw a decrease of 0.9 per cent to 137.18 points.


Holding companies registered minimal drops, with Favorit and Sinergon holdings going up by 1.82 per cent and 1.23 per cent, while about 5500 Favorit and 5000 Sinergon shares changed hands.


Fuel retailer Petrol appreciated by 2.1 per cent, while the Bulgarian Telecommunication Company was on its way to fall below the 10.50 barrier, after marking another dip of 1.12 per cent to 10.56 leva.


SOFIX registered no single increase in the week between October 10 and 14, very similar to what happened with the BG-40 indicator, which rose only on Friday.


The news around the Internet and telecom service provider Bitex that it would invest in the real estate business pushed up its price to 1.30 leva a share on Friday, making it the winner for the week.


Tobacco companies were the losers of the week - Plovdiv BT and Sluntse Stara Zagora BT (both members of Bulgartabac Holding) cheapened by one third of their price after news of their possible close downs next year in case of shrinking cigarette sales.

  • Print
  • Send via email
  • Translate to
  • Share:

To post comments, please, Login or Register.


Please read the The Sofia Echo forum comments policy.

More in this category

Global food prices rebound, FAO says

For the first time in six months, global food prices rose overall in January 2012, the UN Food and Agricultural Organisation said.

Bulgaria mulls tighter regulation of bank fees

The package will be discussed with the Association of Bulgarian Banks before the amendments are submitted to Parliament.

Bulgarian ICT Watch event in March

Debate at the half-day event will cover what has been achieved so far and what further can be done by the Bulgarian Government to support development of the market.

Movers and shakers

Selectivity, not popularity, is the driving force behind Sofia's most exclusive members' only club.

Cash flow vs. profit

Too often, small business owners ignore cash flow, to their own detriment.

Appointments

British Council

British Council

Lyubov Kostova was appointed country manager of British Council Bulgaria effective January 1, replacing Tony Buckby, who left in October 2011 to take a similar position at British Council Greece. Kostova has been with British Council Bulgaria for 11 years, as public communications manager and, since 2008, as the head of project and partnerships department. Prior to joining the British Council, Kostova was head of international activities at the National Academy for Theatre and Cinema Arts (NATFIZ). She has a degree in Indian studies from Kliment Ohridski Sofia University.

CEZ

CEZ

Stefan Apostolov is the new chief executive of CEZ Razpredelenie Bulgaria, the power transmission subsidiary of Czech energy company CEZ in the country. He replaces interim chief executive Ales Damm, who remains the chairperson of the CEZ Razpredelenie management board. Apostolov has 30 years of experience in the energy sector, joining CEZ in 2007 as director of customer service and was later appointed as head of business development. Apostolov has a master's degree in electric systems from the Belorussian National Technical University in Minsc, management diplomas from Open University London and New Bulgarian University, as well as a master's degree in business administration from Plovdiv University.

BASF Bulgaria

BASF Bulgaria

Valentina Dikanska is the new general manager of chemical industry giant BASF subsidiary in Bulgaria, taking over from Herbert Fisch, BASF vice president for Southeastern Europe. Dikanska, who started her career as an expert in the Finance Ministry, joined BASF Bulgaria as director of finance and administration in 2002. She becomes the first Bulgarian to hold the top management position in the company in its 40-year history on the Bulgarian market. Dikanska holds a master's degree in economics from the University for National and World Economy in Sofia.

Rompetrol Bulgaria

Rompetrol Bulgaria

Alexander Albin has been appointed chief executive of fuel distributor Rompetrol Bulgaria, replacing Nichita Sorin, who left to become chief executive of Rompetrol Gaz in Romania. Albin was previously chief executive of Rompetrol Georgia. He has more than 15 years of experience in the oil and gas industry; prior to joining Romania's oil group Rompetrol in 2008 as an adviser, he oversaw operations at Atyrau refinery in Kazakhstan, owned by Rompetrol's parent company KazMunaiGaz. He previously held top management positions at two other leading Kazakh oil and gas companies.

© 2000-2012, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.