Securities for 10 Bln Leva Change Hands on BSE in 2007

Securities for 10 Bln Leva Change Hands on BSE in 2007

The value of the securities traded on the Bulgarian Stock Exchange (BSE) in 2007 stood at 9.96 bln leva (5.09 bln euros). A total of 1.11 billion securities changed hands in 490,628 transactions in the period January to December 2007, data of the Financial Supervision Commission (FSC) showed.

BSE's average daily turnover amounted to 39.84 mln (20.37 mln euros) leva last year, while the daily trading volume totaled 4.45 mln shares traded in an average of 1,963 transactions. The high turnover may be put down to the few large-scale deals sealed on BSE last year.

A total of 259.888 million shares, accounting for 90% of the capital of the Bulgarian Telecommunications Ccompany (BTC), were sold on BSE last year. The total value of the transaction stood at 2.78 bln leva (1.421 bln euros), which translates into 10.70 leva per share.
It emerged last September that Belgium's KBC would acquire 75% of the capital of Bulgaria's Economic and Investment Bank (EIBank). The 75-percent stake represents 5,229,042 shares sold at a price of 56.42 euros a piece. This means that the value of the transaction totaled 576.97 mln leva (295 mln euros).

A total of 70% of the capital of DZI Insurance also changed hands in a single transaction on BSE last August. The stake represents 2.7 mln shares of the capital of the insurance company. The shares were sold a price of 188.368 leva apiece, which values the transaction at 509 mln leva (260.24 mln euros).

There are few interesting facts about the bond market as well. A total of 11,315 bonds, traded on BSE's Official market, changed hands in 225 deals last year. The turnover amounted to 12.11 mln leva (6.19 mln euros).

A total of 237,723 bonds listed on BSE's Unofficial market were traded in 995 deals in 2007. The turnover stood at 362.25 mln leva (185.21 mln euros).

A total of 13.4 mln shares worth 171.7 mln leva (87.78 mln euros) were transferred on BSE last year as a result of tender offers to minority shareholders.

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