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Sopharma may list on Warsaw bourse in 2010

Thu, Dec 10 2009 11:41 CET

byDnevnik.bg

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Sopharma may list on Warsaw bourse in 2010

The first listing of a Bulgarian company on a foreign stock exchange may pass in the spring of 2010.

The board of directors of the Central Depository will discuss in the coming days the usage of the SWIFT system to connect to other depository institutions, with a view to ease the access of Bulgarian companies to foreign markets and for foreign companies to Bulgaria, the depository's executive director Ivan Dimov said on December 9.

The new system for exchanging the information could be operational within two months after the decision for using it is made.

This was the main obstacle before the listing of Bulgarian drug maker Sopharma abroad. The company’s listing in Warsaw was approved by the Financial Supervision Commission in spring 2009.

Meanwhile, other companies have shown interest in listing on the Warsaw Stock Exchange, including investment company Intercapital Property Development.

The Warsaw stock exchange is attractive to Bulgarian companies due to the higher liquidity there, which allows investors to receive a better estimate of the value of their shares. In recent months, daily trading volumes on the Bulgarian Stock Exchange shrank to about 500 000 leva, while volumes on the Warsaw Stock Exchange reach several hundreds of millions of euro a day.

Source: Dnevnik

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