Delisting of BTC, DZI, EIBank to Drag BSE's Market Cap Down to 16.5 Bln Leva


The combined market capitalization of the companies listed on the Bulgarian Stock Exchange (BSE) dropped to 20.18 bln leva as at July 16, 2008 г., as a result of the nine-month decline of the Bulgarian capital market. BSE's market capitalization amounted to 29 bln leva last October when the market was at its peak.

Bulgarian Telecommunications Company (BTC), DZI and EIBank, which are among the biggest companies in terms of market value, are scheduled to be delisted from BSE. This means that the market capitalization of the bourse will drop to 16.5 bln leva at today's prices.

BTC is the biggest company listed on BSE at present with a market value of 2.3 bln leva. Chimimport (1.15 bln leva) is the only other company with a market capitalization exceeding 1.0 bln leva.

Petrol rounds out the top three with a market value of 863 mln leva. This is also the only stock included in the calculation of the broader BG40 to have appreciated since the beginning of the year.

DZI and EIBank, which will also be delisted from BSE, have a market capitalization of 591 mln leva and 769 mln leva, respectively.

Holding Roads, Monbat and Drujba Staklarski Zavodi are not included in the ranking as their capital increase operations using own finding are currently underway.

The market value of the top 20 companies accounts for 56.5% of BSE's overall market capitalization, which in turn stands at 36% of Bulgaria's GDP in 2007.


RankCompanyPrice as at July 16Market capShare of BSE's overall market cap
3Petrol 7,98634,28%
6First Investment Bank5,926513,22%
8DZI 1535912,93%
9Corporate Commercial Bank865162,56%
10Zarneni Hrani Bulgaria2,213771,87%
13Central Cooperative Bank4,023341,66%
14Eurohold Bulgaria4,72941,46%
15IH Bulgaria5,852561,27%
16Lead&Zinc Complex282361,17%
17Trace Group Hold106,612351,16%
19Blagoevgrad BT832241,11%
20Bulgartabac Holding302211,09%
BSE overall market cap20185


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