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Albena, Monbat to replace M+S Hydraulic, Stara Planina in Sofia bourse's blue-chip index

Author Mario Tanev
Albena, Monbat to replace M+S Hydraulic, Stara Planina in Sofia bourse's blue-chip index Author: Bulgarian Stock Exchange / All rights reserved.

SOFIA (Bulgaria), September 10 (SeeNews) - The Bulgarian Stock Exchange said on Tuesday that resort operator Albena [BUL:6AB] and car battery maker Monbat [BUL:5MB] will replace hydraulic equipment manufacturer M+S Hydraulic [BUL:5MH] and diversified group Stara Planina Hold [BUL:5SR] in the composition of the blue-chip SOFIX index as of September 24.

The SOFIX tracks the 15 most traded and capitalised shares on the BSE.

The issues are ranked based on four criteria, which carry an equal weight: median value of the weekly turnover during the last six months, number of trades during the last 6 months, free-float market capitalisation and average arithmetic value of the spread between buy and sell prices.

The maximum weight in the index is 15% for a single issue and 20% for an economic group.

Despite ranking 15th, drug trader Sopharma Trading [BUL:SO5] will not become a component of the SOFIX, as its combined weight with its parent company Sopharma [BUL:3JR], which is also part of the index, will exceed 20%.

The BSE also revised the composition of two of its other indices.

The wider BGBX40 index, which tracks the 40 most traded shares on the Sofia bourse, will have five new members as of September 24.

Holding Nov Vek [BUL:6N3], Bravo Property Fund REIT [BUL:BPY], Yuri Gagarin [BUL:4PX], Alcomet [BUL:6AM] and Odessos Shiprepair Yard [BUL:5ODE] will enter the base, replacing Velgraf Asset Management [BUL:1VX], Oil and Gas Exploration and Production [BUL:4O1], Elhim Iskra [BUL:52E], Aktiv Properties REIT [BUL:5AX] and Galata Investment Company [BUL:GTH].

The BGTR30 index, in which companies with a free float of at least 10% have equal weight, will see four new entrants as of September 24.

Synthetica [BUL:EHN], Holding Nov Vek [BUL:6N3], [BUL:4IN] and Trace Group Hold [BUL:T57] will join the index base at the expense of Himsnab Bulgaria [BUL:58E], Aktiv Properties REIT [BUL:5AX], Rodna Zemya Holding [BUL:6R2] and the Sofia bourse operator - Bulgarian Stock Exchange [BUL:BSO].

No changes will be made to the composition of the BGREIT index, which tracks the performance of real estate investment trusts.