SOFIA (Bulgaria), January 30 (SeeNews) – The Bulgarian financial regulator said on Friday it has sent a notification letter for public offering of shares of SOFIX-based exchange-traded fund Expat Bulgaria SOFIX UCITS [BUL:BGX] in the UK.
The Bulgarian regulator provided no further details in its notice.
The fund tracks the performance of the blue-chip SOFIX index of the Bulgarian stock exchange. It invests in shares of the companies included in the SOFIX as well as deposits and government securities.
Expat Asset Management is a wholly-owned subsidiary of Expat Capital, which is managing private investment accounts and three mutual funds – Expat Emerging Markets Stocks, Expat Global Equities, and Expat Bonds.
Since the fund started trading on the Bulgarian stock exchange on September 27, its shares have gained 11.54%, bourse data showed.
In November, four Bulgarian pension funds invested 22 million levs ($11.95 million/11.24 million euro) in the fund.
"Today's growth will allow Expat Asset Management, the management company of the fund, to continue with its plan to stir the Bulgarian capital market by launching a procedure for cross-listing of the fund's units on a large foreign market," the parent company, Expat Capital, said back then. "This will ensure the access of foreign investors from all over the world to the fund, which will further increase its size."
Expat Bulgaria SOFIX UCITS ETF was trading 0.43% higher at 1.165 levs by 14:15 CET on Monday on the Bulgarian stock exchange.
(1 euro = 1.95583 levs)