SOPHARMA ACQUIRES 68 PHARMACEUTICAL PRODUCTS
07 October 2024
Stock Exchange Stats
Index | Close | Weekly Change % | YTD |
SOFIX | 854.78 | -0.11 | 11.72 |
BGBX 40 | 168.20 | -0.44 | 6.54 |
BGREIT | 206.46 | 0.12 | 8.49 |
Index | P/E | EV/S | P/BV |
SOFIX | 9.85 | 0.22 | 1.61 |
BGBX 40 | 13.68 | 0.43 | 2.04 |
BGREIT | 20.69 | n/a | 2.39 |
BSE Weekly Gainers & Losers
Top Gainers | Price | Change % | ||
NGAZ | Oil&Gas Exploration | 5.30 | 17.78 | |
HSOF | Holding Sveta Sofia | 3.90 | 10.80 | |
HLEV | Zlaten Lev Holding | 4.38 | 9.50 | |
SNRG | Synergon Holding | 1.26 | 6.84 | |
MSH | M+S Hydraulic | 9.90 | 6.44 |
Top Losers | Price | Change % | ||
SPDY | Speedy AD | 193.00 | -8.10 | |
BDT | Biodit AD | 0.91 | -5.21 | |
NEOH | Neochim AD | 19.20 | -4.95 | |
GTH | Galata Investment Co | 2.40 | -4.76 | |
FIB | Fibank AD | 3.98 | -4.33 |
Market Overview (30 Sept – 4 Oct)
The main Bulgarian index SOFIX decreased this week by 0.11% to 854.78 points. The broad index BGBX40 decreased this week by 0.44% to 168.20 points and BGREIT increased this week to 206.46 points, up by 0.12%.
Corporate News
Sopharma (SFA) initiated a transaction for acquisition of a pharmaceutical product portfolio consisting of both CHC and prescription products in the following therapeutic areas: Sex hormones and modulators of the genital system, Urologicals and Antivirals for systemic use. The acquisition totals 68 marketing authorizations with 14 well-known brands in 10 of the traditional markets of the Company, The transaction will take place in stages and its closing is subject to certain condition precedents. The acquisition will be financed with own funds and through an investment loan. The counterparty and the price of the transaction have not been announced.
Wiser Technology / Bianor (BNR) announced that it has made an amendment to the ongoing capital increase procedure. The company extended the subscription period of new shares from 10 to 14 October 2024. In addition, 2 151 229, or 93.7% unused capital increase rights of BNR were bought during the auction held on October 4.
Shelly Group (SLYG) announced that it has sold 100% of the capital of its subsidiary Shelly Properties Ltd. According to the statement, the main asset of the latter was the previous office building. The proceeds from the deal amounted to BGN 6.8m, which unlocks capital for additional investments. Recall that Shelly moved to a new office place in order to support the expansion of the team and the development of the business.
Economic News
- The revenues under the consolidated fiscal programme (CFP) of the Bulgarian government totalled BGN 46.5bn as of end-August (64.8% of the annual estimates). Compared to the same period of 2023, they increased by BGN 4bn (+9.5% YoY) in nominal terms. Tax proceeds amounted to BGN 37.5bn, while non-tax and grant and donation proceeds (mostly EU programme and fund grants) amounted to BGN 6.5bn and BGN 2.5bn, respectively. CFP expenditures, including the contribution of Bulgaria to the EU budget for August 2024, amounted to BGN 48.2bn, which accounts for 59.1% of the annual estimates. The CFP budget balance on a cash basis as of end-August 2024 was negative, amounting to BGN 1.7bn (0.8% of GDP). As of 31.08.2024, the fiscal reserve amounted to BGN 10.7bn.
- In Sept’24, the total business climate index decreased by 1.0% MoM. The composite indicators in Services sector and Construction remained flat compared to the previous month, while Industry dropped 5.2% MoM. The only subsector that improved was Retail trade, which jumped 4.7% MoM. The biggest challenges facing the services sector are economic uncertainty and competition. The problem in the construction sector continues to be the uncertain economic environment, cost of materials and shortage of labour. The main problems facing the industry sector remain economic uncertainty and shortage of labour. Retail trade’s most serious factors limiting activity are economic uncertainty, competition in the branch and insufficient demand.
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
The report can be downloaded in a pdf format here.
Disclaimer
Guarantees
The analyst (s) responsible for the preparation of this document shall ensure that: (1) they take all necessary care to accurately reflect the information contained in this document; (2) no part of the analyst’s remuneration is, has been or will be linked, directly or indirectly, to the recommendation or opinions expressed in this document.
Financial interest: Sofia International Securities may trade or own the financial instruments specified in this document. Sofia International Securities does not own more than 5% of the financial instruments in circulation, subject to analysis or comment in this document. The analyst (s) may or may not own any shares of the companies.
Disclosure of information
Due care has been taken to ensure the accuracy of the facts cited, the reliability of the sources of information and the clear definition of the assumptions, predictions, forecasts and expected prices in this document. The information presented in this document is based on publicly available information, which is considered reliable, but for which no responsibility is taken for completeness and accuracy. Neither Sofia International Securities nor the company’s employees should be held responsible for the publicly available information used. The opinion expressed in this document may differ from the disclosed views in other departments and divisions of Sofia International Securities or from other employees. Additional information on this document is available upon request. The sources of information in the tables and graphs in this document are calculations by Sofia International Securities, unless otherwise stated.
Risks for investors
This document has been prepared and presented for the purpose of summary and informational purposes only and does not constitute a study within the meaning of Art. 13 of Commission Delegated Directive (EU) 2017/593 of 7 April 2016. The information in this document should not be considered as an offer to buy or sell financial instruments or an independent investment council within the meaning of Directive 2014/65 / EU of The European Parliament and the Council of 15 May 2014, Sofia International Securities AD has not assessed the appropriateness in relation to the financial instruments mentioned in this document. The investment opportunities discussed in this document may not be appropriate for certain investors depending on their investment objectives and time horizon or in the context of their overall financial condition. The risks associated with investing in the financial instruments mentioned in this document are not fully explained. The price or value of the investment may decrease or increase. Securities or investments can lead to losses for the investor. A previous achievement is not a guarantee of future performance. Changes in exchange rates may have an adverse effect on the value, price or return on investment in securities. Sofia International Securities AD assumes no responsibility for losses incurred in connection with investments made on the basis of information contained in this document.
Copyright
The analyzes of Sofia International Securities are the exclusive property of the investment intermediary and any publication, distribution, reprinting and citation of content is possible only after the explicit written consent of the „Research and Analysis“ department of the company. It is not allowed to use the analyzes of the investment intermediary from a third party for commercial purposes.