Publications

What shall we know for trading on the Warsaw Stock Exchange

In case the Bulgarian company is public it could register its shares for trading on the Polish market – in the most cases – after approval of a prospectus for the purposes of the dual listing by the Bulgarian Financial Supervision Commission. In case the Bulgarian company is not public, it could get an approval of ...read full publication

Public Debt

Individuals and companies act quite similarly when facing financial woes. Most are punctual and do everything they can to pay their dues; sometimes, though, they are unable or unwilling to do so. That is why banks have different tools to guarantee credits are paid back: collateral, surety, etc. These methods have been established in statutory ...read full publication

Dual listings, or what should companies expect from two stock exchanges

Oftentimes in 2008, we heard from players on the stock exchange that the Bulgarian market simply does not have enough quality companies. This grievance still holds, to some extent, but what would happen if, instead, Bulgarian companies complain that there is not enough quality stock exchange happening here and start searching for alternatives? ...read full publication

The Promota Bulgaria paradox

In May 2005, Austrian investment fund Tishman Lindner Bulgarian Real Property GmbH (new name: Tishman Bulgarian real Property Gmbh) bought out the entire capital of the public company Promota Bulgaria. The aim of this acquisition is no secret to anyone aware of the developments on the real estate market – Tishman and Lindner are major ...read full publication

Is the idea of Bulgarian mutual funds still born?

The latest amendments to the Public Offering of Securities Act were promulgated on May 10th 2005. They seem to have created a new investment niche on the Bulgarian capital market for small and medium-sized investors – these are the mutual funds or contractual funds as the legal term is. This way of making joint investments ...read full publication