SUCCESSFULLY COMPLETED „DOVERIE HOLDING“ RIGHTS OFFERING

Market Overview (August 16^th –August 20^th)  

The main Bulgarian index SOFIX decreased by 1.58% this week, down to 572.43 points. The broad index BGBX40 decreased by 1.04% to 128.30 points. BGREIT also decreased this trading week to 164.61 points, down by 0.25%.

Corporate News                                                      

The auction for 7.1mln rights from the capital increase of Doverie United Holding (DUH) was successfully completed. The rights were sold for BGN 0.1 each. The company announced that it intends to use the funds raised for the recapitalization of the subsidiary “Doverie Invest”

Bianor Holding (BNR) announced that it plans to pay out over BGN 1.4mln, representing BNG 2.08 per share. This represents an approximately 16% dividend yield. The funds come from the accumulated retained earnings of the company from previous years.

CB First Investment Bank (FIB) published information about the H1 results. The management shared that the company reports stable revenue growth, thanks to an increase in the revenue from fees and commissions and net interest revenue. The pre-tax profit for the first half a year has increased by 27.4%.

Zaharni Zavodi AD (ZHZA) published the financial results for H1 2021. The revenue has decreased by 12% YoY to BGN 58.3mln. The pre-tax profit has further fallen by 45% to 3.4mln due to increased amortization.

Economic News                                                       

Bulgaria’s GDP Annual Growth Rate for the second quarter of the year was 9.6%, well above the forecasted growth of 7.9%. For the past year, this has been the first positive change in Bulgaria’s GDP. On the other side, Bulgaria recorded a Current Account surplus of EUR 145mln in June 2021.

Active COVID-19 cases in Bulgaria are on an increasing trend with a 7-day MA of 1,104 cases. The active cases at the end of the week are 20,151. The total number of fully vaccinated people so far is 1,090mln, which is 15.5% of the population in Bulgaria

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