The Council of Ministers took a decision for state participation with a non-monetary contribution in the establishment of a legitimate National Stock Exchange. The initial assessment of the building is in the amount of BGL 2 billion. The Ministry of Finance will prepare the documents, required for licence by the Security and Stock Exchanges Commission. The Ministry of Finance will propose a program for future development of National Stock Exchange which will specify the position of stock exchange in process of cash and mass privatization and relationship with Central Depository of Securities. Banks, Investment Intermediaries, financial houses and other interested parties will be invited to take part in establishment of the National Stock Exchange with monetary payments. The decision provides a procedure for decreasing state participation in 2 years by rising the capital of the stock exchange
Source: 24 chasa (25.04.1997)

The Securities and Stock Exchange Commission (SSEC) rejected to grant a license for investment intermediate to FBH "Shipka" JSC (Kazanlak). The license documents of the Bulgarian Stock Exchange are returned from SSEC because of basic omissions of the Exchange’s Regulation. SSEC enlisted in its Register the capital increase of the Privatization Funds "Vi Vesta" and "Bulinvest- Group" respectively up to BGL 294.281 million to BGL 244.101 million.
Source: FSC (05.06.1997)

"Sofia Stock Exchange" JSC and "Bulgarian Stock Exchange" JSC signed a agreement for establishment of National Stock Exchange by the state initiative. The agreement was signed also by the Minister of Industry Mr. Alexandar Bozhkov. The new company's name is "Bulgarian Stock Exchange - Sofia" JSC.
Source: Capital market (06.06.1997)

At the Extraordinary General Meeting of the shareholders of "Sofia Stock Exchange" JSC was taken a decision for a change of the company's name to "SSE - Capital Market" JSC. The text of the agreement signed between "Sofia Stock Exchange" JSC and "Bulgaria Stock Exchange" JSC on June 6th, 1997 was approved by the shareholders. The General Meeting authorized the Board of Directors to consign the SSE's assets under the control of "Bulgaria Stock Exchange - Sofia" JSC from the moment in which it has acquired rights over not less than 2/3 from the SSE's capital. The shareholders confided to the Board of Directors to undertake the requested steps to establish a National Stock Exchange in Bulgaria if eventually "Bulgaria Stock Exchange" JSC did not observe the negotiated requirements under the agreement from June 6th, 1997.
Source: Capital market (20.06.1997)

The Council of Ministers took a decision to grant a non-monetary contribution in the capital of Bulgarian Stock Exchange JSC (BSE), as 67 per cent from the building's evaluation at 61 Hristo Botev Blvd., Sofia. The remaining share of the building's evaluation will be lent in loan for 5-year period. The building's evaluation registered in the Court is in the amount of BGL 1.450 billion. The assets of BSE JSC are in the amount of BGL 1.010 billion, according to the Ministry of Finance's assessment.
Source: Capital market (18.07.1997)

At the General Meeting of the shareholders of "Bulgarian Stock Exchange" JSC was taken a decision that the company is renamed in "Bulgarian Stock Exchange - Sofia" JSC and for an increase in the capital up to the amount of BGL 199 million, through the participation of the state as shareholder - 99,000 shares. The shareholders authorized the Board of Directors to increase the capital till October 1th, 1997 up to the amount of BGL 300 million, on a public subscription as to the Sofia Stock Exchange's shareholders will be offered nominal shares and the remaining shares will be offered to new shareholders in an face value of BGL 10,000. Mr. Plamen Oresharski - member of the Board of Directors of BSE and Deputy Minster of Finance, Mr. Georgi Prohaski - counsellor in the Ministry of Industry, Mr. Marin Marinov - Deputy Minster of Industry, Mr. Spas Dimitrov - Chairman of the State Savings Bank, Dimitar Zhelev - Chairman of Bulgarian Insurance Holding, Mr. Stoyan Alexandrov - Chairman of the Central Cooperative Bank’s Board of Directors, Mrs. Ivanka Petkova and Mr. Penyo Hadzhiev - Executive Director of Bulgarian Investment Bank were elected members of the new Stock Exchange's Board of Directors.
Source: Pari (22.07.1997)

The "Bulgarian Stock Exchange - Sofia" JSC Board of Directors voted Mr. Georgi Prohaski - a counselor of the Ministry of Industry- as a Chairman of the Board of Directors. Mrs. Ivanka Petkova was elected Deputy-Chairman and Mr. Dimitar Zhelev and Mr. Victor Papazov were elected Executive Directors of the Stock Exchange.
Source: Pari (23.07.1997)

Shares of 4 enetrprises will be traded at Bulgarian Stock Exchange JSC after its licence is granted, was reported from the Securities and Stock Exchange Commission. The plants offered for privatization through Bulgarian Stock Exchange JSC are: ElcabelJSC (Bourgas), the construction company Krepezhni Izdelia JSC (Plovdiv), Chimmash JSC (Haskovo) and Construction Products JSC (Botevgrad). In order that shares of these enterprises are offered for privatization, first their prospectuses must be prepared. Only the prospectus of "Elcabel" JSC (Bourgas) is ready, was also reported by the Commission.
Source: 24 chasa (18.08.1997)

The stock exchange does not have the right to grant loans and to become guarantee to third persons, according to suggestions for amendments at Securities, Stock Exchanges and Investment Companies Act. It is also expected that investment intermediaries will be granted the right to manage securities and funds of their clients.
Source: 24 chasa (28.08.1997)

30 major state-owned enterprises will be privatized on the stock exchange, the Deputy-Minister of Industry Mr. Marin Marinov reported. The date of September 30, 1997 is final term, up to which the Government should specify the enterprises which shares will be traded on the stock exchange.
Source: Kontinent (29.09.1997)

Securities and Stock Exchange Commission gave a license to "Bulgarian Stock Exchange" JSC. According to the Chairman of the Board of Directors, Mr. Georgi Prohazki, the first stock exchange session will be held after one month because of lack of trading system for stock exchange trade and disorders in the system of clearing and settlement.
Source: Capital market (09.10.1997)

The shares acquired through investment bonds at the mass privatization may be traded without a prospectus of the stock exchange till October 31st 1998, according to amendments at Securities, Stock Exchanges and Investment Companies Act, suggested by the government.
Source: Pari (14.10.1997)

"Bulgarian Stock Exchange - Sofia" JSC will start to work on October 21st 1997, was reported after a meeting of the Board of Directors of the company. On this date will begin two-hour daily stock exchange sessions for block trade.
Source: 24 chasa (15.10.1997)

BGL 20,000 per a transaction will be the commission of the stock exchange, said the Executive Director of "Bulgarian Stock Exchange - Sofia" JSC, Mr. Victor Papazov. The intermediaries will determine their commissions according to the market principle. "Bulgarian Stock Exchange - Sofia" JSC and Central Depository signed a contract for cooperation for servicing of the stock exchange trade and deals. The clearing bank will be "Credit Bank" JSC until the system of clearing and settlement is set through "Bankservice" JSC.
Source: Pari (17.10.1997)

Tomorrow will start the first stock exchange session of "Bulgarian Stock Exchange - Sofia" JSC and 5 banks and 9 licensed investment intermediaries will have an access to it. The Board of Directors of "Bulgarian Stock Exchange - Sofia" JSC suggests that the access to trade for investment intermediaries is granted through payment of a fee of BGL 5 million till January 31st 1997. Another major problem is connected to the access to trade of shares of the enterprises enlisted for mass privatization. It is not clear what will happen to 1 007 282 shares of "Neftochim" JSC transfered to Central Depository - they are nullified. This is also valid for the shares of "Sodi" SPJSC after Central Depository transfered 4 369 shares through a transfer agent and 51 067 shares - through investment intermediaries.
Source: Pari (20.10.1997)

"Krumitza" JSC, "Mayak" JSC, "Plevenski Tziment" JSC, "Ariana" JSC, "Slitex" JSC and "Zhiti" JSC are the six enterprises which will be traded on "Bulgarian Stock Exchange - Sofia" JSC in the first stock exchange session.
Source: Pari (21.10.1997)

At the first stock exchange session of "Bulgarian Stock Exchange - Sofia" JSC was realized a turnover of BGL 222 million and all deals were struck on the segment of block trade. There were deals struck with the shares of four companies registered at the stock exchange.
Source: Pari (22.10.1997)

On October 22nd one deal was struck on "Bulgarian Stock Exchange - Sofia" JSC. 58,974 shares of "Plevenski Tziment" JSC were sold at BGL 18,500 per one share. The turnover from the deal is in the amount of BGL 1,091,019,000.
Source: Pari (23.10.1997)

Two deals in the amount of BGL 173,282,480 were struck on "Bulgarian Stock Exchange - Sofia" JSC. The traded companies were "Plevenski Tziment" JSC and "Riviera" JSC. The latter company is newly registered. At the present moment there are seven companies registered at the stock exchange.
Source: Pari (24.10.1997)

The shares of four industrial enterprises will be traded on the stock exchange, said the Deputy Minister of Industry, Mr. Marin Marinov. These companies are: Krepezhni Izdelia JSC (Plovdiv) - 36 per cent of the shares, Construction Products JSC (Botevgrad) - 56 per cent of the shares, Chimmash JSC (Haskovo) - 60 per cent of the shares and "Elkabel" JSC (Bourgas) - 60 per cent of the shares.
Source: Democracy (29.10.1997)

The Board of Directors of "Bulgarian Stock Exchange - Sofia" JSC elected members: CB "Biochim" JSC, "Eurobank" JSC, National Bank of Greece, International Bank for Trade and Development. Associated members were elected "Unity Invest" JSC, "Aval" JSC and "Hedger" JSC. The Board of Directors approved a list of arbiters in the Court of Arbitration.
Source: Pari (03.11.1997)

The shares with the highest stock price during the past week were those of Gipsfazer JSC. The package of 15 857 shares was registered at BGN 28 251 per share. One of the reasons for the high price of these shares is the contract for the sale of 60 per cent of this company to the Austrian company Knauf, which was signed in February. A price of USD 5.7 million was negotiated back then, as the price per share was fixed at USD 33.84. The buyers will invest about USD 6 million more in the modernization of the production process, so the price of the shares could be expected to raise even more.
Source: Capital (08.11.1997)

Shares for BGL 2,365 billion were sold at "Bulgarian Stock Exchange - Sofia" JSC. This is the biggest turnover since beginning of the stock exchange trade. 106,289 shares of "Medicet" JSC, "Mashstroy" JSC and "Celhart" JSC were sold.
Source: Other (13.11.1997)

The Board of Directors of "SFB Capital Market" sent a protest note to Deputy Chairman of the Council of Ministers Mr. Alexander Bozhkov - guarantor on the agreement with "Bulgarian Stock Exchange". The note read that only "Sofia Stock Exchange" JSC has fulfilled its obligations, according to the agreement from June 6th 1997. Till October 1st 1997 "Bulgarian Stock Exchange" did not increased its capital up to BGL 300 million, BGL 18 million of which had to be offered to the shareholders of "Sofia Stock Exchange" JSC. "Sofia Stock Exchange" JSC should have its representative in the Board of Directors of "Bulgarian Stock Exchange", but the latter did not fulfil this obligation too.
Source: Capital market (28.11.1997)

26.4 per cent of the shares of "Bulgranit" JSC (Sofia) will be offered for sale on the stock exchange, according to an order of the Minister of Industry, Mr. Alexander Bozhkov. The company produces granite tilings.
Source: Trud (01.12.1997)

22 companies enlisted for mass privatization presented their statutes (certified by court) to "Bulgarian stock Exchange - Sofia" JSC. The Board of Directors of the stock exchange fixed a ten-day term for presenting the statutes. The purpose of this was avoidance of trade with shares, which cannot be traded without agreement of the shareholders.
Source: Pari (01.12.1997)

Securities and Stock Exchanges Commission did not approve the prospectus of "Elcable" JSC because of inaccuracy in the issue price. According to the government programme, the company will be privatized on the stock exchange.
Source: Pari (10.12.1997)

The Board of Directors of "Bulgarian Stock Exchange - Sofia" JSC decided to increase the company's capital up to BGL 300 million. The new issue will be in the amount of BGL 101 million and BGL 18 million of it are provided for preferential sale to the shareholders of former "Sofia Stock Exchange". The remaining shares for BGL 83 million will be sold freely but the price has not been fixed yet. The new shares will not be issued immediately because a prospectus must be made by the stock exchange and approved by Securities and Stock Exchanges Commission.
Source: Capital (15.12.1997)

Securities and Stock Exchange Commission approved the prospectus of "Elcable" JSC, said the Deputy Minister of Industry, Mr. Marin Marinov. The company's shares will be traded on the stock exchange at the beginning of 1998. The prospectus must be published at least 7 days before the shares are offered for sale.
Source: Capital market (19.12.1997)

47 deals were struck yesterday on "Bulgarian Stock Exchange - Sofia" JSC through block trade. Over 2 million shares were sold for BGL 15 billion. At the regular stock exchange session were struck 3 deals. 2541 shares of "Chimproduct" JSC (Gorna Oryahovitza) were sold for BGL 7,813 each. 1757 shares of "Leyarcomplekt" (Sofia) were bought for BGL 8,810 each.
Source: Trud (20.12.1997)

BGL 7,58 billion is the price of "Elcable" SPJSC (Bourgas), according to the prospectus for public sale of shares, which was approved by Securities and Stock Exchanges Commission. On the stock exchange will be offered 60 per cent of the shares of the enterprise. Minimum price of one share is BGL 14,500.
Source: 24 chasa (22.12.1997)