WISER TECHNOLOGY IPO APPROVED BY FINANCIAL REGULATOR

09 September 2024

Stock Exchange Stats

BSE Weekly Gainers & Losers

Market Overview (02 Sept – 06 Sept)

The main Bulgarian index SOFIX increased this week by 0.48% to 868.90 points. The broad index BGBX40 increased this week by 0.20% to 169.87 points and BGREIT increased this week to 200.24 points, up by 0.06%.

Corporate News

Bulgarian Stock Exchange (BSE) – its CEO Manyu Moravenov announced that they had conducted review of an incident, because of which it is getting sued by TPP Maritsa East 2. BSE considers all claims baseless and will be defending itself in court and will not pay the  BGN 368 th claim.

MFG Invest (MFG) announced they had invested another EUR 100,000 in Eleven Capital (11C) third fund- Eleven Fund III Cooperatied U.A. With that, the total investment amounts up to date stands EUR 670,000 and the maximum, which was promised was EUR 1mln.

ImPulse Growth (IMP) announced that the capital raise through warrants was considered successful as 59,202 warrants were subscribed and paid for. As such, the income is in the amount of BGN BGN 88,803 (shares with BGN 1.50 emission value)

Bianor Holding (BNR) announced they had received approval from the financial supervisor to issue shares for a capital raise. The plan is to issue up to 4,096,711 new shares with emission value of BGN 6.00 per share, meaning that at 100% success, the new shares will be 16,386,844 and the new capital BGN 24,580,266. Since the beginning of 2023 the company has raised over BGN 28mln, which it used to complete 6 acquisitions, which lead to total income increasing 9x. The purpose of the existing raise is to repay the bridge financing needed for one of the acquisitions and to target further acquisitions in Western Europe. So far, according to the CEO Kosta Yordanov, investors have approached them for a total of BGN 21mln out of the BGN 24.5mln. An open meeting for prospect and existing investors will be held on 11/09/2024 at Hyatt Regency Sofia at 4pm. The meeting can also be watched on the Youtube channel of Bianor/ Wiser Technology at https://www.youtube.com/@WiserTechnologySolutions  Further information about the issue or the company can be found on www.sis.bg

Economic News

• The economy expanded by 2.1% YoY in the second quarter of 2024, slightly higher than a 2% gain in the preliminary estimates and compared to an upwardly revised 1.9% rise in the previous three-month period. Net external demand contributed positively to the country’s GDP, with exports falling at a slower pace (-0.3% vs -2.1% in Q1) and imports rebounding (4.9% vs -3.7%). Meanwhile, final consumption (3% vs 3.4%) grew at a slower pace, as well as gross fixed capital formation (3.6% vs 8.7%). On a quarterly basis, the GDP advanced by 0.5% in Q2 of 2024, matching the initial estimate and unchanged from an upwardly revised figure in the previous three-month period.
• Retail sales rose by 6.8% YoY in July, accelerating from a 4.4% growth in the previous month. It was the strongest growth rate since April, as sales increased for food, beverages & tobacco (12.6% vs 9.7% in June) and non-food products (7.3% vs 5.7%). Additionally, sales declined at a softer pace for automotive fuel in specialized stores (-6.2% vs -11.2%).

Ivaylo Valchev
Equity Analyst
Tel.: +359 2 937 9862
e-mail: valchev@sis.bg

Svetozar Abrashev
Senior Managing Partner
Tel.: +359 2 937 9869
e-mail: abrashev@sis.bg

Sofia International Securities
Sofia 1000,
140 G. S. Rakovski Str.
Tel.: + 359 2 937 98 65
e-mail: info@sis.bg

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