News on Capital Increases and Dividend Distributions Brings More Optimism to BSE

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News on Capital Increases and Dividend Distributions Brings More Optimism to BSE

News on several capital increases and dividend distributions emerged this week, which was not unnoticed by the investment community.

It had an impact on both the concerned positions and BSE trade as a whole. We can safely conclude that corporate news has started to influence the investment activity again.

Today was the fifth straight session of advances for SOFIX. The index added 2.86% to 1217.96 points. The index of the most liquid companies on BSE – BG40 climbed 3.37% and closed at 334.61 points. BGTR30 rose 1.37% to 811.49 points and BGREIT was up 0.66% to 94.65 points.

Unlike most recent sessions BSE's turnover today was relatively high – at 9.57 mln leva (4.8 mln euros). 81 (63%) out of 129 active issues closed on positive territory. The value of block and other agreed transactions stood at 764,000 leva.

Two companies in SOFIX ended the day at a loss – M+S Hydraulic and Sopharma. The first lost 1.6% to an average of 9.22 leva at a turnover of 10,457 shares.

Sopharma depreciated by 0.16% to an average of 6.07 leva at a turnover of 18,579 shares. Bulgarian American Credit Bank was the only blue chip not traded today.

The best performer in SOFIX today was no doubt Holding Roads, which soared 14.52% to 964.27 leva. Several transactions were made at over 1,000 leva apiece.

Yesterday the Holding announced plans for a 71-fold capital increase, from the current 432,000 leva to 30.67 mln leva. Shareholders shall receive 70 new shares to each one they hold. The proposal is to be voted at the company's general meeting scheduled June 27.

Orgachim's market capitalization rebound 6.83% to an average of 351.79 leva at a turnover of 356 shares.

Four of the blue chips ended the day with gains larger than 3%. The correction on the position of Kaolin seems over as the advancing trend that started May 8 continued today as well. The stock added 3.89% to 11.74 leva apiece at a turnover of 10,921 shares. The company announced plans to set aside 7.5 mln leva for dividend distribution.

Elana Agricultural Land Opportunity REIT climbed 3.24% to 2.23 leva. Chimimport once again passed 10 leva. The stock added 3.33% to 10.25 leva after 104,699 shares changed hands in 323 deals.

Central Cooperative Bank was also among today's gainers, closing at 5.14 leva, or 3.21% up from opening.

Zarneni Hrani Bulgaria was number one on terms of traded volume with 132,965 shares. The average price on the position gained 6.38% to an average of 2.5 leva. Chimimport was second, followed by Eurohold Bulgaria. 65,271 shares changed hands in 176 deals on the position of the holding, bringing the average price up 2.69% to 5.45 leva apiece.

Moststroy and Trace Group Hold attracted a lot of attention today as well. Moststroy's stock soared 17.05% to 126.51 leva on news of the decision for a five-fold capital increase using own funds. With 239 transactions the company was among the most liquid ones on BSE today.

Trace Group Hold rose 6.99% to 123.93 leva at a turnover of 1,546 shares.

Monbat was also among the most liquid stocks today. The price gained 1.28% to 26.23 leva. 239 shares changed hands today. The company has appointed a general meeting of shareholders Friday, which is to discuss proposals for a capital increase and dividend distribution.

Today was also the final day for trade in shares in Toplivo and Emka entitling to voting rights at the companies' general meetings.

On Unofficial Market of Equities Segment B, Dobrudja Holding added 30.01% to 10.96 leva.

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